Development bank stocks rally on speculations

Bloomberg

TSKB shares closed the first session Wednesday at 1.15 Turkish Liras, the highest level since Sept. 10. "TSKB shares are rising on expectation that it will become a deposit bank," said Mehmet İlgen, a trader at Ata Invest in Istanbul.

The Turkish officials asked not to be identified because they aren’t authorized to talk to the press. Halit Ertuğrul, spokesman for Deputy Prime Minister Ali Babacan, said he wasn’t aware of any request by the government to issue the new licenses.