Investors gave a cautious welcome on Thursday to the Turkish government’s narrow – but decisive – legal victory against opponents trying to oust it from power, as political and business leaders appealed for more consensual and less confrontational politics.

Turkish stocks closed about 2 per cent higher in see-saw trading following Wednesday’s ruling by the constitutional court, which allowed the Justice and Development party (AKP) to remain in office, in spite of finding that the party engaged in “anti-secular activities”.