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Turkey's Halkbank shares drop after muted Trump-Erdogan meeting

Credit: REUTERS/HUSEYIN ALDEMIR

Shares of Turkey's Halkbank fell as much as 3% on Thursday after a meeting between the Turkish and U.S. leaders did not appear to address U.S. charges that the state-owned lender took part in a scheme to evade sanctions on Iran.

ISTANBUL, Nov 14 (Reuters) - Shares of Turkey's Halkbank HALKB.IS fell as much as 3% on Thursday after a meeting between the Turkish and U.S. leaders did not appear to address U.S. charges that the state-owned lender took part in a scheme to evade sanctions on Iran.

The stock was down 2.02% at 0741 GMT despite a ban on short selling that Turkish authorities applied on Oct. 16 after U.S. prosecutors filed the charges. Halkbank has dismissed them as related to short-lived U.S. sanctions over Turkey's Syria incursion.

The meeting at the White House between U.S. President Donald Trump and Turkish counterpart Tayyip Erdogan "fell short to provide any material development about the critical issues such as... (the) Halkbank case for the time being," said Oyak Securities.

(Reporting by Jonathan Spicer Editing by Daren Butler)

((jonathan.spicer@reuters.com; Reuters Messaging: jonathan.spicer.thomsonreuters.com@reuters.net @jonathanspicer))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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