Markets lift off

摘要

The Istanbul Stock Exchange ended 2004 with a good premium and there has been some profit-taking, so it is normal that the market is off its high, according to the exchange's vice-chairman, Hueseyin Erkan. "With new public offerings like Akmerkez and Petkim in the pipeline we'll see new excitement. Actually, Petkim is a secondary offering, but the effect is the same." Mr Erkan also sees the start of EU membership negotiations as a big lift for the stock exchange, though no one in the financial markets has come out against the idea. "Once they start without delay, that will be good, and just being there vaults Turkey into another horizon."