Day: August 13, 2021

Turkey’s benchmark stock index opened at 1,444.82 points on Thursday, up 0.02% or 0.36 points from the previous close.

At Thursday’s close, Borsa Istanbul’s BIST 100 index was up 2.38% to 1,444.46 points, with a daily trading volume of 15.7 billion Turkish liras ($1.8 billion).

The US dollar/Turkish lira exchange rate stood at 8.5730 as of 9:30 a.m. local time (0630GMT), versus 8.5660 at the previous close.

The euro/Turkish lira exchange rate also rose slightly to 10.0670 from 10.0490, while one British pound traded for 11.8280 Turkish liras, down from 11.8820.

One barrel of Brent crude oil was sold for around $71 as of 10 a.m. local time (0700GMT).

Source: Anadolu Agency

Turkey’s current account balance posted a deficit of $1.127 billion in June, down $1.95 billion from the same month last year, the Turkish Central Bank announced on Friday.

With June figures, the current account deficit continued to narrow for the fourth month in a row.

According to balance of payments figures released by the bank, the country’s 12-month rolling deficit totaled almost $29.68 billion.

An Anadolu Agency survey this week showed that a group of 17 economists’ projections for the June current account deficit ranged from $700 million to $2.3 billion, with the median at $1.26 billion.

The survey also projected that the end-2021 current account balance will have a $21.3 billion deficit.

In May, the current account posted a $3.08 billion deficit.

The bank said the drop is mainly driven by $1.5 billion net inflow in services item, in contrast to net outflow of $346 million observed in the same month of the previous year.

The goods deficit also narrowed by $462 million to $1.6 billion in June on an annual basis.

“Gold and energy excluded current account indicated $1.99 billion surplus which was recorded $40 million surplus in the same month of the previous year,” the bank noted.

Travel items under services saw a net inflow of $1.02 billion in June.

The bank also said direct investments recorded net inflow of $796 million during the month.

Source: Anadolu Agency

Major stock markets in Asia closed mixed on Friday, but they ended the week with gains due to their rally at the first half of this week.

The Asia Dow, which includes blue-chip companies in the region, was up 11 points, or 0.3%, to 3,923 at 1000GMT. It was up 1.43% for the week.

Tokyo’s Nikkei 225 stock exchange, on the other hand, decreased 37 points, or 0.14%, to dive below the critical support level of 28,000 points at 27,977. The index, however, posted a 0.56% gain this week.

The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, plummeted 126 points, or 0.48%, to 26,391, while it had a weekly rise of 0.81%.

China’s Shanghai stock exchange was down 8 points, or 0.24%, to 3,516 points, but it soared 1.67% this week.

Asian indices having a three-day winning streak from Monday through Wednesday helped them post weekly gains.

After hitting record levels on Thursday, major indices in Europe were still strong as five of them posted new all-time highs.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, saw a new record high of 476.16 before retreating to 475.79 at the time.

London’s FTSE 100 saw a new all-time high of 7,224.13 earlier in the session, but it was trading at 7,215 points at the time for a 0.3% gain.

Germany’s DAX 30 was up 80 points, 0.5%, to 16,018 after seeing a fresh all-time high of 16,030.33 earlier during the session.

The French CAC 40 renewed its record with 6,911.76 — a 0.43% increase.

Italy’s FTSE MIB was up 0.3% at 26,637 points after posting a new all-time high of 26,674.61.

Spain’s IBEX 35 was the only major index that did not reach a record high, but it was up 0.3% to climb above the psychological level of 9,000 points at 9,005.

Source: Anadolu Agency

Turkey recorded 660,595 house sales in the January-July period, down 22.7% year-on-year, the country’s statistical authority announced on Friday.

Istanbul had the highest share with 26,716 house sales, according to official figures announced by the Turkish Statistical Institute (TurkStat).

The capital Ankara and the Aegean province of Izmir followed Istanbul with 15,948 and 8,297 house sales, respectively.?

A total of 200,550 houses were sold for the first time, while second-hand house sales totaled 460,045 units, TurkStat’s figures showed.

Mortgaged house sales were recorded at 124,721, decreasing 68.6% compared to the same period last year.

In July alone, 107,785 houses were sold in the country, down 53% compared to the same month 2020.?

In the summer period last year, the government’s housing loan campaign with low interest rates increased the house sales in July 2020.?

Sales to foreigners

Official data showed that residential property sales to foreigners amounted to 24,983 units in the seven-month period, up 46.9% from 17,003 in the same period last year.

Istanbul again led such sales with 12,059 houses, followed by the Mediterranean resort city of Antalya with 4,921 and Ankara with 1,588.

Among foreigners, Iraqis topped the list with 3,731 houses. They were followed by Iranians with 3,689 house sales and Russians with 2,124.?

In July alone, house sales to foreigners totaled 4,495, jumping 64% on an annual basis.

Source: Anadolu Agency

Revenues of Airbnb and Disney’s parks division soared around 300% in the second quarter of this year, according to their financial statements released Thursday.

Airbnb had a revenue of $1.3 billion in the April-June period, up 288% from $335 million in the same period of the previous year when the travel business was severely impacted by the COVID-19 pandemic.

The company of online marketplace for vacation rentals saw its net loss shrink to $68 million, from $575 million, year-on-year.

It had 83.1 million nights and experiences booked in the second quarter, “nearly recovering to the

same period pre-COVID levels,” according to its statement. That figure was up 197% from the second quarter of 2020.

“Travel is returning to some major cities, with gross nights booked to cities such as Istanbul, Las Vegas and Sao Paulo recovering to pre-pandemic levels by the end of June,” the statement added.

Airbnb, however, warned that the new COVID-19 variants may impact the travel industry.

“In the near term, we anticipate that the impact of COVID-19 and the introduction and spread of new variants of the virus, including the Delta variant, will continue to affect overall travel behavior, including how often and when guests book and cancel,” it said in a letter to shareholders.

The Walt Disney Company also said Thursday its parks, experiences and products division have returned to profitability for the first time since the beginning of the pandemic when its theme parks and resorts were closed, and its cruise ship sailings and guided tours were suspended.

Disney said the pandemic’s biggest impact on operating income was seen at the Disney parks, experiences and products segment due to revenue loss, but noted that results have improved since reopening its parks and resorts.

The company saw its revenue from the segment rose to $4.34 billion for the quarter ending on July 3 – up 309% from $1.06 billion in the same period of last year.

Total revenue climbed 44% to $17 billion, from $11.78 billion, year-on-year.

Source: Anadolu Agency

The Dow Jones and S&P 500 opened Friday at record high levels with strong company earnings, while five indices in Europe posted new all-time highs.

The blue-chip Dow hit a record high of 35,610.57 points with the first bell, although later retreated to 35,575 for a 0.2% gain at 9.55 a.m. EDT (1355GMT).

The S&P 500 climbed to a new all-time high of 4,468.37 at the opening but later fell to 4,465 for a 0.1% increase.

The Nasdaq, on the other hand, was down 3 points, to 14,812.

The record-high levels came after Airbnb and Walt Disney announced late Thursday that their revenue soared around 300% in the second quarter year-on-year.

While Disney shares rose 3.4% on Friday, Airbnb’s stock price was down 1.3% after the online vacation rental hub warned that new COVID-19 variants may impact the travel industry.

The strong start to the session caused the VIX volatility index, known as the fear index, to slide 1.7% to 15.32.

The dollar index also fell 0.3% to 92.76, while the yield on 10-year US Treasury notes declined 2.3% to 1.335.

Precious metals continued their volatility, this time showing some recovery. Gold added 0.8% to $1,767 per ounce and silver rose 1.5% to $23.54.

Oil prices also showed slight losses, with Brent crude losing 0.4% to $71.04 per barrel and West Texas Intermediate stood at $68.88 – a 0.3% loss.

Europe

Major indices in Europe were still strong after five of them earlier posted new all-time highs.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, saw a new record high of 476.16 before hovering around 475 points at 1410GMT.

London’s FTSE 100 saw a new all-time high of 7,224.46 earlier in the session, but it was trading at 7,216 points for a 0.3% gain.

Germany’s DAX 30 was up 80 points, 0.2%, to 15,976 after seeing a fresh all-time high of 16,030.33 earlier during the session.

The French CAC 40 renewed its record with 6,913.67. It was at 6,896 points, up 0.2%.

Italy’s FTSE MIB was up 0.3% at 26,630 points after posting a new all-time high of 26,687.97.

Spain’s IBEX 35 was the only major index that did not reach a record high, but it was up 0.3% at 9,003.

Source: Anadolu Agency

Major indices in European stock exchanges closed Friday higher with five of them hitting new records during the session, as they posted weekly gains between 1.1% and 2.5%, according to data compiled by Anadolu Agency.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, saw a new record high of 476.16 before closing at 475.83 points with a 0.21% daily gain. The index rose 1.24% for the week.

London’s FTSE 100 saw a new all-time high of 7,224.46 earlier in the session, before ending the day at 7,218 points for a 0.35% rise. It jumped 1.34% this week.

Germany’s DAX 30 was up 0.25% to 15,977 after seeing a fresh all-time high of 16,030.33 earlier during the session, as it posted a weekly increase of 1.37%.

The French CAC 40 renewed its record with 6,913.67. It was at 6,896 points at final bell for a daily gain of 0.2%, while it rose 1.16% this week.

Italy’s FTSE MIB was up 0.36% at 26,652 points after posting a new all-time high of 26,687.97. Among European indices, it had the best weekly gain of 2.5%.

Spain’s IBEX 35 was the only major index that did not reach a record high during trading hours on Friday, but it was up 0.23% at 8,999.80 at the close. The index increased 1.36% this week.

US indices were still strong after a record opening on Friday, except Nasdaq.

The Dow Jones was trading at 35,535 at 12.45 p.m. EDT (1645GMT) with a 0.1% daily gain after hitting a record high of 35,610.57 points with the opening bell on the New York Stock Exchange.

The S&P 500 climbed to a new all-time high of 4,468.37 at the opening as well, but it was at 4,463 for less than a 0.1% increase.

The Nasdaq, on the other hand, was down 5 points, to 14,811 at the time.

Source: Anadolu Agency