Borsa Istanbul Banks Index and Borsa Istanbul Index

: The Borsa Istanbul Banks Index declined 0.7 per cent at the midday break after Citigroup London-based analyst Simon Nellis lowered his recommendation for Turkiye Garanti Bankasi AS, Turkiye Halk Bankasi AS and Yapi ve Kredi Bankasi AS to sell from neutral, according to Business Week. The Borsa Istanbul 100 Index climbed 0.1 per cent. The currency fell as much as 0.8 per cent to 3.0687 per dollar before trading 0.6 per cent lower at 1:13 p.m. in Istanbul. The lira has slipped 24 per cent this year as Turkey heads for its second election in six months and after a three-year truce with the Kurdistan Workers’ Party, or PKK, broke down. The prospect of higher US borrowing costs as early as this week has spurred a flight from risky assets. The country current-account deficit raises its reliance on capital inflows, making it among the most vulnerable economies to a US interest rate increase. (news.financializer.com). As reported in the news.