May 25, 2017 / 5:03 AM / 8 months ago

Turkey - Factors to Watch on May 25

ISTANBUL, May 25 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Thursday.

The lira stood at 3.5544 against the U.S. dollar at 0500 GMT, little changed from 3.5565 at Wednesday’s close.

The yield on the benchmark 10-year bond was at 10.67 percent in spot trade on Wednesday and stood at 10.62 percent in Thursday-dated trade.

The main BIST 100 share index rose 0.61 percent to 98,313.77 points on Wednesday.


Asian shares scaled two-year highs on Thursday while the dollar and U.S. bond yields slipped after the U.S. Federal Reserve signalled a cautious approach to future rate hikes and the reduction of its $4.5 trillion of bond holdings. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.7 percent, hitting its highest level since June 2015, and bringing its gains so far this year to about 17 percent.


President Tayyip Erdogan is to meet European Commission President Jean-Claude Juncker and European Council President Donald Tusk on the sidelines of his visit to a NATO summit in Brussels. Erdogan is also set to meet the leaders of France, Britain and Germany.

Erdogan said on Wednesday the Manchester bombing showed terrorism was a global problem and NATO allies should cooperate more closely and share information swiftly to confront it.


Prime Minister Binali Yildirim will hold talks with the head of the National Intelligence Agency (MIT) Hakan Fidan (0915 GMT), the deputy Sudanese president (1115 GMT) and the head of the armed forces General Hulusi Akar (1515 GMT).


Russia is negotiating with Turkey in an effort to resolve a stop-start agriculture trade dispute between the countries, the Kremlin said on Wednesday, although Ankara disputed it had put curbs on imports of Russian wheat.


Senior U.S. lawmakers want the House of Representatives to formally condemn Turkish security forces’ violent response to a street protest in Washington during a recent visit by Erdogan, a congressional aide said on Wednesday.


The mobile phone operator will hold is general meeting. It said on Wednesday Turkcell Holding shareholders had agreed to propose a 3.0 billion lira dividend.


The Islamic banking association will hold is general meeting. Deputy Prime Minister Nurettin Canikli will attend (0630 GMT).


The Turkish cement manufacturers’ association will hold a meeting (0700 GMT).

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

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