TURKISH LIRA GAINS AFTER AK PARTY ELECTION VICTORY

By 04:16 GMT the currency was quoted at 1.5702/1.5740 against the dollar, compared with Friday's close of 1.5770.

The AK Party won 50 percent of the vote to give Erdogan a third consecutive term. But the AK Party's parliamentary majority slipped, as it won 326 seats, down from 331 in the previous assembly.