May 12, 2020 / 6:04 AM / 20 days ago

Turkey - Factors to Watch on May 12

ISTANBUL, May 12 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Tuesday.

The lira traded at 7.0650 against the dollar at 0427 GMT, firming slightly from Monday’s close of 7.0750. On Thursday it weakened to a record low of 7.2690.

The main BIST 100 share index fell 0.05% to 97,792.23 points on Monday.

GLOBAL MARKETS

Asian shares skidded on Tuesday on growing worries about a second wave of coronavirus infections after the Chinese city where the pandemic originated reported its first new cases since its lockdown was lifted.

TREASURY AUCTIONS

The Treasury will tap a three-year TLREF-indexed bond and an eight-year CPI-indexed bond in auctions. It will also issue a six-month and a two-year sukuk.

CORONAVIRUS

Turkish President Tayyip Erdogan said on Monday that a lockdown would be imposed starting on Saturday and ending after Tuesday, May 19, which is a national holiday. He said intercity travel restrictions on nine more cities had been lifted, as Turkey gradually eases measures taken against the coronavirus.

BANKING REGULATOR

Turkey’s BDDK bank regulator is dropping a trading ban imposed last week on UBS, Citigroup and BNP Paribas because they have fulfilled foreign exchange obligations promptly, according to a BDDK letter sent to banks on Monday.

WEALTH FUND

Turkey’s sovereign wealth fund said on Monday it moved to increase three state banks’ core capital by a total of 21 billion lira ($2.97 billion) in an action aimed at supporting capital structure and adequacy.

LEAGUES

Turkey cancelled its basketball and volleyball leagues for the 2019-2020 season on Monday, with no relegated teams and the current standings valid for European competition, following a stoppage in play due to the coronavirus pandemic.

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Istanbul National-100 stock index, interbank lira trading, lira bond trading (Compiled by Ali Kucukgocmen)

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