February 8, 2019 / 5:04 AM / 4 months ago

Turkey - Factors to Watch on Feb 8

ISTANBUL, Feb 8 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Friday.

The lira stood at 5.2600 against the U.S. dollar at 0431 GMT, firming slightly from a close of 5.2640 on Thursday.

The yield on the benchmark 10-year bond stood at 14.62 percent on Thursday, rising from 14.52 percent a day earlier.

The main BIST 100 share index rose 0.19 percent on Thursday to 102,784.03 points.

GLOBAL MARKETS

Asian stocks lost ground on Friday as investors worried about a broadening global economic slowdown, with sentiment not helped by the absence of any positive signs for a resolution in the U.S.-China trade row.

ERDOGAN

President Tayyip Erdogan will hold an election rally in the central Anatolian city of Sivas (1100 GMT).

SAFE ZONE IN NORTH SYRIA

Erdogan urged on Thursday that steps on forming a planned safe zone in northern Syria should be taken as soon as possible, adding that Turkey had every means to create the safe zone on its own as long as its allies provided it with logistics support.

TARIFFS ON TURKISH STEEL

Erdogan asked the United States to lift recent tariffs on Turkish steel, calling them a big obstacle to increasing trade volumes. Washington doubled tariffs on Turkish steel and aluminium in August, when relations between the NATO members were strained by the detention of an American evangelical pastor in Turkey.

TOFAS

Auto maker Tofas posted a 2018 net profit of 1.33 billion Turkish lira ($253 million), up 3.7 percent from a year ago, the company said late on Thursday.

ERDEMIR

Steel maker Erdemir’s 2018 full year net profit surged 49 percent to 5.6 billion lira, the company said on Thursday.

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Istanbul National-100 stock index, interbank lira trading, lira bond trading ($1 = 5.2573 liras) (Writing by Ece Toksabay)

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