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Istanbul stocks

end higher

ISTANBUL: Istanbul shares closed 1.3 percent higher after listless trade in which the index lost strength due to profit-taking but managed to retain some of the morning session's gains, brokers said.

The IMKB-100 ended at 45,170.07 points up 590.77 points, as losers out numbered gainers 74 to 72 in the 205 issues traded.

Daily volume was 7.03 trillion lira, up from Monday's 5.13 trillion. The IMKB-100 had ended 1.5 percent higher at 45,244 in the morning session.

"There is a general lack of enthusiasm and the exchange remains directionless in the lack of fresh cash entry. Trade is expected to be dull until thhe coalition party congress in September," said one broker, who declined to be named.

Brokers say the September 9 congress of the junior coalition partner of the government, the Republican's People Party (CHP), keeps political worries intact in the exchage, limiting cash entry necessary for substantial gains.

The 79-shares industrial index ended 0.86 percent higher at 51,252 and the 21-shares financial index gained 2.93 percent to close at 36,190.

The session's most active shares were of the partially-privatised flat steel giant Eregli, which gained 200 to end at 6,700 lira. Utility firm Cukurova shares were also active in terms of turnover but ended the session unchanged at 18,500 lira.-Reuter