Turkish Stocks Drop After Moody’s Downgrades 17 Banks

(Bloomberg) —

Borsa Istanbul 100 Index opens 0.4% lower in Istanbul amid rout in emerging markets and Moody’s downgrade of 17 Turkish banks.

Biggest decliners by index points: Garanti, Turkcell, Erdemir
Index rose 2% on Thursday
Gezici sees Turkey President Erdogan at 48.7% on June 24 elections, and CHP Presidential Candidate Muharrem Ince at 25.8%, according to its recent survey done on May 25-26
Moody’s downgraded 17 Turkish banks and placed them on review for further downgrade
Erdogan said state of emergency may be lifted after election
- “We may discuss the state of emergency and lift it after the election,” CNNTurk cites Turkish President Recep Tayyip Erdogan as saying in televised interview with the channel.
Turkey is working on possible anti-dumping probe on some U.S. companies, state-run Anadolu Agency cites Turkey’s Economy Minister Nihat Zeybekci as saying in Denizli.