April 30, 2019 / 4:46 AM / 2 months ago

Turkey - Factors to Watch on April 30

ISTANBUL, April 30 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Tuesday.

The lira traded at 5.9550 against the U.S. dollar at 0443 GMT, weakening from a close of 5.9467 on Monday.

The yield on the benchmark 10-year bond rose to 19.38 percent on Monday from 19.14 percent on Friday.

The main BIST 100 share index fell 0.26 percent on Monday to 94,535.10 points.

GLOBAL MARKETS

Shares in Asia fell on Tuesday as readings on China’s manufacturing activity failed to meet expectations, underscoring weakness in the world’s second-largest economy despite Beijing’s attempts to spur growth. Both official and private business surveys pointed to slower Chinese factory growth this month, dashing hopes for a steady reading or even a faster expansion. Data also showed a slower expansion in its services sector, adding to economic uncertainty.

CENTRAL BANK INFLATION REPORT

The Turkish Central Bank will release its quarterly inflation report with end-year inflation forecasts and hold a briefing on policy developments (0730 GMT). The minutes of the bank’s last rate-setting meeting will be announced (1100 GMT).

ERDOGAN, TRUMP TALKS

U.S. President Donald Trump and Turkish President Tayyip Erdogan in a phone call on Monday discussed a Turkish proposal to create a joint working group on its planned purchase of a Russian S-400 missile defence system, the Turkish Presidency said.

ERDOGAN SCHEDULE

President Erdogan will speak at the IDEF International Defence Industry Fair (0800 GMT). He will also attend a conference of trade counsellors (1200 GMT) and chair a meeting of the central executive committee of his AK Party (1500 GMT).

TRADE DATA

The Turkish Statistical Institute will announce trade data for March (0700 GMT).

TOURISM REVENUES

The Turkish Statistical Institute will release tourism revenues for the first quarter (0700 GMT).

FOREIGN ARRIVALS

The Tourism Ministry will announce foreign arrivals data for March (0800 GMT).

GARANTI BANK

The lender posted an unconsolidated net profit of 1.72 billion lira ($289 million) in the first quarter, down 14 percent from the same period a year earlier.

FORD OTOSAN

The automaker announced a net profit of 478 million lira ($80.3 million) in the first quarter, up 11 percent from a year earlier.

TOFAS

The automaker said its net profit was 324.7 million lira in the first quarter, little changed from the level in the same period a year earlier.

ARCELIK

The consumer electronics maker said net profit rose 27 percent in the first quarter to 225.4 million lira.

QNB FINANSBANK

The lender said its net profit climbed to 631.3 million lira in the first quarter from 528.7 million in the same period a year earlier.

UAE COURT RULING

The United Arab Emirates’ Supreme Federal Court upheld a life sentence against a Turkish citizen in a terrorism case, Emirates News agency (WAM) said on Monday.

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Istanbul National-100 stock index, interbank lira trading, lira bond trading ($1 = 5.9523 liras) (Compiled by Daren Butler)

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