September 13, 2012 / 5:36 AM / 5 years ago

Turkey - Factors to Watch on Sept 13

ISTANBUL, Sept 13 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Thursday.

The lira was at 1.8060 against the dollar at 0520 GMT, firming from 1.8084 late on Wednesday.

The yield on the two-year benchmark bond closed at 7.33 percent, after earlier on Wednesday dipping to 7.18 percent, its lowest level since January 2011, on expectations of more aggressive rate cuts by the central bank.

The main share index closed up 0.12 percent at 68,184 points.

GLOBAL MARKETS

Asian shares steadied in choppy trade on Thursday ahead of the U.S. Federal Reserve’s decision later in the day, as investors remained cautiously optimistic for further stimulus action to bolster the world’s largest economy.

Commodities from oil to gold were also held in tight ranges as investors awaited the Fed decision expected to be released at 1630 GMT, followed by Chairman Ben Bernanke’s news conference about two hours later.

TURKCELL

Virgin Mobile is in talks with Turkey’s biggest mobile phone operator Turkcell about establishing a mobile virtual network operator (MVNO) partnership in the young and fast-growing market, sources told Reuters on Wednesday.

Virgin Group confirmed it was having “preliminary discussions” with various parties in Turkey but declined to comment further. Turkcell said it was open to partnerships in the field but gave no further details.

ISBANK

Isbank, Turkey’s biggest listed lender by assets, said on Wednesday that it had secured a syndicated loan in two tranches of 572.6 million euro ($736 million) and $404.5 million to finance foreign trade.

The loan will have a maturity of one year and with a cost of 135 basis points over LIBOR/EURIBOR, it said in a statement to the Istanbul Stock Exchange.

Note: For a list of forthcoming events, see.

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