Turkey’s Halkbank Jumps Amid Speculation on U.S. Court Case

Halkbank shares jump as much as 7.9% and trade 6.1% higher as of 5:32pm in Istanbul amid speculation that the Turkish state-backed lender might be looking for a settlement with U.S. authorities over allegations of sanctions busting.

* Shares rise after Turkish journalist Murat Muratoglu says in a Twitter post that he heard “claims” that the U.S. is assessing an offer from Turkey to pay compensation and settle the matter

* Halkbank declined to comment when contacted by Bloomberg

* Banking index also rises and was up 0.9% as of 5:40pm local time