August 10, 2018 / 5:35 AM / 7 months ago

Turkey - Factors to Watch on August 10

ANKARA, Aug 10 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Friday.

The lira hit a new record low of 5.75 against the dollar early on Friday, weakening from Thursday’s close of 5.55, and stood at 5.70 at 0528 GMT.

The yield on the benchmark 10-year bond was at 18.85 percent on Thursday’s close.

The main BIST 100 share index rose 0.218 percent to 97,185.13 points on Thursday.


Asian stock markets fell on Friday amid heightened global trade tensions, while currency markets were whipsawed by a searing selloff in Russia’s rouble after the United States slapped on new sanctions, and as economic worries sent the Turkish lira tumbling.


The Turkish delegation that met U.S. officials to try to resolve disputes between the two NATO allies arrived back in Turkey on Thursday, a foreign ministry source said.


Turkey’s lira tumbled to another record low against the dollar on Thursday after a Turkish delegation returned from meeting U.S. officials in Washington with no apparent solution to a diplomatic rift that has opened up between them.


Turkey needs to halt the sharp slide of the lira quickly, credit rating agency Fitch said on Thursday, warning the country’s situation had worsened since its downgrade just a month ago.


Turkish Airlines is interested in acquiring a stake in an airport operator in its core business area but has not settled on a specific airport, the company’s chief executive Ilker Ayci said on Thursday.


Turkish President Tayyip Erdogan will kick off a tour of the country to thank voters for re-electing him in the June elections. He will make a speech in the northeastern province of Bayburt (1100 GMT) and later attend an opening ceremony in the Gumushane province (1330 GMT).


Finance Minister Berat Albayrak will announce the country’s new economic model at an event in Istanbul (1130 GMT).

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Istanbul National-100 stock index, interbank lira trading, lira bond trading (Reporting by Tuvan Gumrukcu)

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