The Turkish constitutional court's rejection of the case to ban the ruling AKP party removes one of the major uncertainties hanging over the country's stock market, and a robust relief rally is likely to ensue, says Andrew Howell, strategist at Citigroup.

He notes that equities had already begun to anticipate a less negative outcome than full closure in recent weeks and have risen 30 per cent since the start of July - although Turkey remains an underperformer this year within emerging markets.