March 19, 2020 / 5:03 AM / 15 days ago

Turkey - Factors to Watch on March 19

ISTANBUL, March 19 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Thursday.

The lira stood at 6.4975 against the dollar at 0458 GMT, weakening from a close of 6.4825 on Wednesday.

The yield on the benchmark 10-year bond rose to 12.83% on Wednesday from 12.78% on Tuesday.

The main BIST 100 share index fell 1.38% on Wednesday to 85,576.61 points.

GLOBAL MARKETS

The dollar surged and everything else was blown away on Thursday as emergency central bank measures in Europe, the United States and Australia failed to halt a fresh wave of panic selling. Stocks, bonds, gold and commodities fell as the world struggles to contain coronavirus and investors and businesses scramble for hard cash.

CORONAVIRUS

President Tayyip Erdogan advised Turks on Wednesday not to leave home unless necessary for three weeks and to minimise social contact until the threat of the coronavirus recedes, but he did not tell them to stay away from work.

Turkey subsequently announced a second coronavirus death and said the number of confirmed cases of the highly contagious respiratory illness had nearly doubled to 191 after it ramped up steps to combat the virus’ spread, closing cafes, banning mass prayers and halting flights to 20 countries.

ECONOMIC PACKAGE

Erdogan also said Turkey would postpone debt payments and reduce tax burdens in various sectors under a 100 billion lira ($15.4 billion) package to support the economy and lessen the impact of the coronavirus pandemic.

CLOTHING RETAILERS SHUT SHOPS

Turkish clothing retailers, including Mavi Giyim and Vakko Tekstil, are temporarily shutting stores in response to the spread of a coronavirus, they said.

FORD OTOSAN

The automaker said it was suspending production activities for two weeks at factories in Turkey.

HALKBANK

The bank said it was to start share a buyback programme for up to 12.00 billion shares with up to a maximum 750.0 million lira funding.

BORDER CLOSURES

Turkey’s land borders with Greece and Bulgaria have been closed to entry and exit of passengers as a measure against the coronavirus outbreak, state broadcaster TRT Haber said on Wednesday.

MINISTERS SPEAK

Health Minister Fahrettin Koca will brief lawmakers about the fight against coronavirus in parliament, while Education Minister Ziya Selcuk will give an interview to state-owned Anadolu news agency (0800 GMT).

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

Forex news

All emerging market news

All Turkish news

For real-time quotes, double click on:

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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below