"Crisis Eased, Turkey Index Is Up
By Christopher Emsden and William Echikson
Word Count: 527 | Companies Featured in This Article: Fortis, Citigroup, General Electric
Turkish financial markets showed resilience as investors welcomed a call for early legislative elections as a way to defuse tensions between Islamists and secularists.
The tensions had driven the market, which was down about 8% at one point on Monday, sharply lower over the previous two trading sessions. The Istanbul stock market's benchmark index rose 1.7% yesterday after being up as much as 3% during the day. The Turkish lira's fall slowed after two days of sharp losses that followed the military's weekend warning that it opposed the governing party's plans to elect an Islamic-leaning president."
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