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Turkey - Factors to Watch on March 2
March 2, 2017 / 5:12 AM / 9 months ago

Turkey - Factors to Watch on March 2

ISTANBUL, March 2 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Thursday.

The lira stood at 3.6550 against the dollar at 0511 GMT, unchanged from the close on Wednesday.

The yield on the benchmark 10-year bond was at 10.91 percent in spot trade on Wednesday and rose to 10.94 percent in Thursday-dated trade.

The main BIST 100 share index rose 2.11 percent to 89,320.25 points on Wednesday.

GLOBAL MARKETS

Asian shares rose on Thursday as investors were encouraged by President Donald Trump’s less combative tone in his first speech to Congress, which sent Wall Street stocks sharply higher, while growing bets on a U.S. rate hike this month buoyed the dollar. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.7 percent, led by rebounds in Australian and Hong Kong shares,.

SYRIA

The top U.S. commander in Iraq on Wednesday delivered a robust defense of Kurdish fighters that have been America’s strongest allies on the ground in Syria, despite concerns from Turkey that they pose a threat. He even signaled some role for Kurdish forces in an upcoming offensive for the city of Raqqa.

He also said talks were underway with Turkey on the role it might play in liberating the militant group’s de facto capital.

Turkey’s army and allied Syrian rebels attacked villages held by U.S.-allied militias near the city of Manbij in northern Syria on Wednesday, a spokesman for the militias said, an escalation of Turkey’s military campaign there.

ERDOGAN

President Tayyip Erdogan will attend an international ombudsman meeting, along with Prime Minister Binali Yildirim, at the presidential palace (1130 GMT). Erdogan and Yildirim will hold their regular weekly meeting (1315 GMT). Erdogan will then meet the head of the MIT intelligence agency Hakan Fidan (1430 GMT).

YILDIRIM

Prime Minister Yildirim will attend a congress on international democracy entitled ‘the July 15 coup attempt - global chess’ (0800 GMT).

FOREIGN MINISTER

Foreign Minister Mevlut Cavusoglu will make a presentation to parliament’s foreign affairs commission regarding the latest developments in Turkish foreign policy (0800 GMT).

COCA-COLA

The soft drinks company reported a 2016 loss of 28.4 million lira ($7.76 million) versus a profit of 117.2 million lira a year earlier.

TOFAS

The carmaker proposed to pay FY 2016 dividend of gross 0.70 net 0.595 lira ($0.1629) per share.

For other related news, double click on:

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

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