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Istanbul stocks

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ISTANBUL: Shares on Istanbul's stock market continued to post losses in thin and lacklustre trade caused mainly by cash shortage, brokers said.

The IMKB-100 closed down 580.72 points, or 1.25 percent at 45,888.04, after rebouding from a late low of 45,534.93. Over the week, it lost 6.55 percent, after diving 6.96 percent last week.

Daily volume further shrank to 4.86 trillion lira from Thursday's 7.1 trillion and Wednesday's 10.2 trillion.

"I do not await any activity next week if there is no fresh cash entry. The (emergency) parliamentary meeting is only an excuse for the fall," said Kursat Aydin from Entez securities.

"The main problem is the lack of demand because money is not being diverted to stocks," he added.

The main opposition Motherland Party (ANAP) has called for an emergency session of parliament to vote on its demand for by-elections to fill 22 empty seats out of 450 total, renewing speculation over possible early elections.

Press speculation over who may support the proposal - if the minimum 150 MPs necessary for the session turn up on Wednesday - has annoyed the market.

The 79-share industrial index dropped 1.19 percent to 52,260.52 and the 21-share financial index lost 1.44 percent to 36,301.88. Out of the 203 stocks traded, falls outdid rise by 119 to 41 and 43 closed unchanged.

Leading actives were partially privatised flat steel giant Eregli, steady at 6,900 lira and Ihlas Holding, down 500 lira at 28,500.-Reuter