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TURKEY: Local Stocks Decline on Reports of Investigation into Istanbul Mayor

TURKEY
BulletEM BulletEmerging Market News
  • The Borsa Istanbul index has erased earlier gains, down around 0.2% on the session, on the back of reports that an investigation has been launched into opposition mayor Ekrem Imamoglu due to statements he made that were of a “threatening” nature for Istanbul Chief Prosecutor Akin Gurlek and his family, according to Haberturk.
  • Riza Akpolat, opposition mayor of Istanbul’s Besiktas district, was formally arrested last week after being detained as part of an investigation against a criminal organization, Anadolu Agency reported. That prompted comments from Ozgur Ozel, the leader of Turkey’s main opposition the Republican People’s Party (CHP), who accused President Recep Tayyip Erdoğan of behaving like a “political mob boss” after the president hinted that Imamoglu could be the next target.
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  • The Borsa Istanbul index has erased earlier gains, down around 0.2% on the session, on the back of reports that an investigation has been launched into opposition mayor Ekrem Imamoglu due to statements he made that were of a “threatening” nature for Istanbul Chief Prosecutor Akin Gurlek and his family, according to Haberturk.
  • Riza Akpolat, opposition mayor of Istanbul’s Besiktas district, was formally arrested last week after being detained as part of an investigation against a criminal organization, Anadolu Agency reported. That prompted comments from Ozgur Ozel, the leader of Turkey’s main opposition the Republican People’s Party (CHP), who accused President Recep Tayyip Erdoğan of behaving like a “political mob boss” after the president hinted that Imamoglu could be the next target.