Moody’s yesterday announced it had upgraded Bank of Cyprus’s credit rating from Ca to Caa3, reflecting the lender’s strengthened capital cushions, according to a statement by the rating agency. The Cypriot bank’s outlook remains stable, Moody’s added.
Turk bourse shares.
to save the euro and reiterated the single currency was irreversible. Italian 10-year bond yields fell 5 basis points to 2.29 percent, while equivalent Spanish yields fell 3 bps to 2.21 percent. Irish and Portuguese yields also dipped, while Greek yields were a touch higher, with the benchmark 10year bond yield closing at 8.07 percent, up from 8.02 percent on Friday. it seeks to entice investment to its financial capital. The government authorized the initial public offering of as much as 42.75 percent of Borsa Istanbul in a decision released on Friday. The plan comes after the exchange brought the country’s equity, debt, derivatives, and precious metal markets under one roof following a 2012 restructuring. Nasdaq OMX Group Inc is part-owner of Borsa Istanbul. While Turkey has the largest equity market in emerging Europe after Russia, it may have more room to grow than some of its peers. The bourse’s stock market value was 29 percent of gross domestic product last year compared with 40 percent for Russia and 120 percent for South Africa, according to data compiled by Bloomberg. The Borsa Istanbul 100 Index has advanced 20 percent in 2014, compared with a 1.6 percent decline in the MSCI Emerging Markets Index.