Turkish energy shares rise after Erdogan promises "good news"

Petkim Petrokimya Holding

19/08/2020 14:28

ISTANBUL, Aug 19 (Reuters) - Shares in Turkish energy
companies rose sharply on Wednesday after comments by President
Tayyip Erdogan during an energy-related event about "good news"
due to be announced on Friday.
    Speaking at the opening of a solar power plant in Ankara,
Erdogan said no threats can deter Turkey from seeking natural
resources in the eastern Mediterranean, where it is at odds with
Greece and Cyprus over energy exploration.  urn:newsml:reuters.com:*:nL8N2FL43F
    Shortly after, without elaborating, Erdogan said he would
announce "good news" on Friday that will open "a new period" in
Turkey. Finance Minister Berat Albayrak said the announcement
would be "an axis shift" for Turkey.
    "We are imagining, dreaming of this good news right now. I
believe as of now that by giving this good news to our people on
Friday, God willing a new period will be opened in Turkey,"
Erdogan said. "If I announce it now, the excitement and all will
be lost."
    Shares in Turkey's Tupras refiner  TUPRS.IS  were up 6%,
while the shares in petrochemicals company Petkim  PETKM.IS 
rose 9.6% following Erdogan's comments.
    

 (Reporting by Ali Kucukgocmen; Writing by Tuvan Gumrukcu;
Editing by Dominic Evans)
 ((tuvan.gumrukcu@tr.com; +90 312 292 7021; @tuvangumrukcu;
Reuters Messaging:
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