April 26, 2018 / 5:03 AM / a month ago

Turkey - Factors to Watch on April 26

ANKARA, April 26 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Thursday.

The lira stood at 4.0800 against the U.S. dollar at 0533 GMT, firmer than a close on Wednesday of 4.0977.

The yield on the benchmark 10-year bond was at 12.59 percent in spot trade at Wednesday’s close.

The main BIST 100 share index fell 2.41 percent to 107,401 on Wednesday.

GLOBAL MARKETS

Asian stocks rose on Thursday as robust corporate earnings helped Wall Street quell concerns about the surge in U.S. bond yields, while the dollar hovered near 3-1/2-month highs against a basket of currencies.

BOTAS

Turkish Treasury will guarantee the debt of state pipeline operator Botas on four projects including two storage units, the TANAP pipeline, and a floating storage and regasification unit (LNG FRU), according to a cabinet decision published on the official gazette.

PRESIDENT ERDOGAN

President Tayyip Erdogan will hold a meeting with Prime Minister Binali Yildirim (1000 GMT). Erdogan will meet with Governor-General of New Zealand Patsy Reddy, and Turkish Cypriot parliament speaker Teberruken Ulucay (1200 GMT, 1300 GMT)

CENTRAL BANK

Turkey’s central bank raised its top interest rate more than expected on Wednesday, after the lira hit new lows and President Tayyip Erdogan called snap elections for June, but analysts said it will need to do more to fight inflation and support the currency.

MEDIA

A Turkish court on Wednesday sentenced 14 staff of the opposition Cumhuriyet newspaper to prison on terrorism charges and acquitted three, one of their lawyers said, in a case that has sparked global outrage over press freedom under Tayyip Erdogan.

TURK TELEKOM

Telecoms operator Turk Telekom’s first quarter net profit fell 15.2 percent to 56 million lira ($13.73 million), the company reported late on Wednesday.

AKBANK

Turkish lender Akbank’s first quarter net profit rose 18 pervent to 1.7 billion lira, outperforming forecasts for a 1.6 billion lira profit.

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

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Istanbul National-100 stock index, interbank lira trading, lira bond trading (Writing by Ece Toksabay)

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