When the Islamic/centre-right coalition banned Turkish nationals from entering the country’s 74 casinos from October 1, where did gambling addicts put their money? On the Istanbul Stock Exchange of course. That, according to the popular daily Hürriyet, explained the inexorable rise of the stock exchange index in the final days of September.
Experienced Turkish brokers immediately recognized this story for what it was complete rubbish. Mehmet Akkent, manager at Citicorp Securities in Istanbul, took time off to call the journalist and scold him for giving another jerk to an already chaotic market.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
