Excerpt from: Spread Betting European Stocks
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| April 30, 2007 | | Spread bets and CFDs on nearby stock markets could also be affected | Turkish stocks are down as the main Turkish stock index tumbles on the news that the powerful military may attempt to block one of the candidates in the upcoming presidential election. This is also affecting the stock index values of nearby countries in Eastern Europe as investors fear for the stability of the region. Bloomberg has the world news that may affect spread betting and contracts for differences:
Turkey's main stock index sank the
most in 11 months after the military signaled it may block the
government's presidential candidate.
Turkiye Is Bankasi AS and Akbank TAS, the nation's biggest
listed banks, led the retreat. The military, which has forced
four governments from power since 1960, accused the
administration of using the presidential election to erode the
nation's secular tradition.
``It's the first time since 2001 that the political risk
increased so high and foreign investors look at the country's
risk profile,'' said Mehmet Ilgen, a trader at Istanbul-based
Ata Invest.
Turkish stocks have outperformed emerging markets this year
buoyed by accession talks with the European Union and economic
growth, which has outpaced western Europe. Political instability
may complicate EU talks. | | |
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