May 10, 2017 / 5:29 AM / 3 months ago

Turkey - Factors to Watch on May 10

ISTANBUL, May 10 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Wednesday.

The lira stood at 3.6200 against the U.S. dollar at 0500 GMT, firming slightly from 3.6250 at Tuesday's close but sharply weaker than 3.5855 early on Tuesday.

The yield on the benchmark 10-year bond was at 10.60 percent in spot trade on Tuesday and was at 10.61 percent in Wednesday-dated trade.

The main BIST 100 share index rose 1.59 percent to 95,323.38 points on Tuesday.

GLOBAL MARKETS

Asian stocks edged higher for a third consecutive day on Wednesday as investors focused on strong corporate earnings and the dollar gave back some of its recent gains after a rise in political tensions. U.S. President Donald Trump's abrupt dismissal of FBI Director James Comey prompted some unwinding of risky bets in early Asian trading but strategists said investors were cheered by a strong slate of corporate earnings, reflecting the cyclical rebound in the first quarter of 2017 was still in place.

U.S. TO ARM SYRIAN KURDS

Despite fierce opposition from NATO ally Turkey, U.S. President Donald Trump has approved supplying arms to Kurdish YPG fighters to support an operation to retake the Syrian city of Raqqa from Islamic State, U.S. officials said on Tuesday. Ankara views the Kurdish YPG militia, fighting within a larger U.S.-backed coalition, as the Syrian extension of the Kurdish PKK militant group, which has fought an insurgency in southeastern Turkey since 1984.

U.S., TURKISH DEFENCE MINISTERS TALK

U.S. Defense Secretary Jim Mattis spoke with his Turkish counterpart on Tuesday, the Pentagon said. It said the equipment provided to the Syrian Democratic Forces would be limited, mission specific and meted out incrementally.

ERDOGAN

Turkish President Tayyip Erdogan will attend a ceremony to mark the anniversary of the establishment of the Council of State court (0700 GMT). In the afternoon he will meet the president of Sierra Leone and they will hold a joint news conference (1530 GMT).

YILDIRIM

Prime Minister Binali Yildirim will travel to Britain for a conference on Somalia (1100 GMT).

KOC HOLDING

The conglomerate said its net profit in the first quarter more than doubled to 1.1 billion lira ($304 million) from 515.2 million in the same period a year earlier.

TOFAS

The carmaker said its net profit rose 9.1 percent to 262.4 million lira in the first quarter.

SABANCI HOLDING

The conglomerate said its net profit rose 4.5 percent in the first quarter to 669.4 million lira ($185 million).

HALK BANK

The state lender said its net profit jumped to 1.22 billion lira in the first quarter from 680.1 million in the same period a year earlier.

INDUSTRY MINISTER

Industry Minister Faruk Ozlu will hold a news conference regarding a production reform package (0630 GMT).

EU AFFAIRS MINISTER

European Union Affairs Minister Omer Celik will hold talks in Brussels with top EU officials.

For other related news, double click on:

Turkish politics TR-POL

Turkish equities TR-E

Turkish money TR-M

Turkish debt TR-D

Turkish hot stocks TR-HOT

Forex news

All emerging market news

All Turkish news

For real-time quotes, double click on:

Istanbul National-100 stock index, interbank lira trading, lira bond trading (Writing by Daren Butler)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below