Turkish markets recovered partially on Friday after four days of losses fuelled by worries about the outcome of referendums on a Cyprus peace plan and Turkish prospects for European Union membership.
Yields on the most active August 24, 2005, bonds fell to 22.06 percent from 22.40 percent on Thursday, while the lira firmed to 1,322,000 against the dollar from 1,340,000.
The main share index ended up 0.44 percent at 19,505.17, having fallen 3.1 percent on Thursday.
"We retreated yesterday in low volume. There was cautious movement today and a limited reaction (to those losses)... There could be gains in the coming days linked to expectations for the referendum," said Koc Portfolio fund manager Merih Yildirim.
Investors are reluctant to move aggressively ahead of an April 24 referendum on reuniting the island of Cyprus, which is set to join the EU on May 1.
Opinion polls suggest the majority of Greek Cypriots will reject the UN reunification plan while Turkish Cypriots may vote "yes". Markets are closely watching the developments because they have a direct bearing on Turkey's own EU ambitions.
Among active shares, conglomerate Sabanci Holding fell 2.63 percent to 5,550 lira on news that the group's management board chairman Sakip Sabanci was critically ill in an Istanbul hospital.
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