February 7, 2017 / 5:00 AM / a year ago

Turkey - Factors to Watch on Feb 7

ISTANBUL, Feb 7 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Tuesday.

The lira stood at 3.7038 against the dollar at 0458 GMT, weakening from 3.6740 at Monday’s close.

The yield on the benchmark 10-year bond was at 10.83 percent in spot trade on Monday and edged up to 10.87 percent in Tuesday-dated trade.

The main share index fell 1.17 percent to 87,357.86 points on Monday.


Appetite for Asian stocks and the euro evaporated on Tuesday as economic and political fears sent investors seeking shelter in the yen, while forecasts China’s foreign exchange reserves has fallen for a seventh month added to jitters. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.15 percent while Japan’s Nikkei dropped 0.45 percent as a stronger yen depressed stocks.


President Tayyip Erdogan will speak at an economic council of the TOBB Turkish Union of Chambers and Commodity Exchanges (0930 GMT).

Erdogan will meet the Ethiopian President Mulatu Teshome (1330 GMT) and hold a joint news conference (1530 GMT).


Parliament will reconvene and political parties will hold group meetings, with Prime Minister Binali Yildirim to address the ruling AK Party (0830 GMT).


The electronic appliances manufacturer reported a rise in 2016 net profit to 1.3 billion lira from 891.1 million lira a year earlier.

It also forecast 2017 revenue growth of over 20 percent in Turkish lira terms.


Foreign Minister Mevlut Cavusoglu will attend a meeting of a Turkish-Saudi cooperation council and meet his Saudi counterpart.


Deputy Prime Minister Mehmet Simsek will meet the United Arab Emirates economy minister at a meeting of the two countries’ joint economic commission (0700 GMT).


The Treasury will release data on the January cash balance (1430 GMT).

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

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