Posted by meb at July 2nd, 2008

The İstanbul Stock Exchange benchmark index (İMKB-100) yesterday fell 5.36 percent, closing at 33,208.2 points, the lowest level in more than two years, at the end of the day.

The index was just below the 35,000 support level at the opening of the session but soon started to fall rapidly with the news that two former top-level military officials and Ankara Chamber of Trade (ATO) Chairman Sinan Aygün, together with 22 others, were taken into custody as part of an ongoing investigation into Ergenekon — a neo-nationalist gang thought to have links to the state and military.

On Monday, the exchange had opened amid a pessimistic outlook largely affected by the developments in international markets, especially oil prices, which have surged to record highs over $143 per barrel. The gloomy mood was not helped by a Citigroup report advising its investors to be more cautious in regards to Turkish stocks.
source: Today’s Zaman