August 8, 2018 / 5:06 AM / 2 months ago

Turkey - Factors to Watch on August 8

ANKARA, Aug 8 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Wednesday.

The lira stood at 5.26 against the dollar at 0502 GMT, weakening from Tuesday’s close of 5.2260.

The yield on the benchmark 10-year bond was at 18.79 percent at Tuesday’s.

The main BIST 100 share index rose about 2.1 percent to 96,161.04 points on Tuesday.

GLOBAL MARKETS

Asian shares extended their recovery into a fourth day on Wednesday, buoyed by strong U.S. earnings and expectations that Beijing will ramp up fiscal stimulus to cushion the impact of its worsening trade dispute with Washington.

U.S. RELATIONS

Turkey’s newly appointed deputy foreign minister, Sedat Onal, will head a delegation of officials from three ministries that will go to the United States to discuss tensions between the NATO allies, a source in the Turkish foreign ministry said on Tuesday.

Separately, Turkish Defence Minister Hulusi Akar and U.S. counterpart Jim Mattis speak over phone and discussed bilateral defence deals, Syria and counterterrorism, Turkish broadcasters and the state news agency said, without citing their source.

TURKISH LIRA

Turkey’s lira held close to its record low against the dollar on Tuesday as concerns deepened about a rift with the United States and President Tayyip Erdogan’s influence over the central bank.

A further drop in the Turkish lira to 7.1 versus the dollar could largely erode the country’s banks’ excess capital, investment bank Goldman Sachs has warned.

TURKSTREAM

Officials from the TurkStream pipeline will hold a news conference in Istanbul (0630 GMT).

MAIN OPPOSITION

Kemal Kilicdaroglu, the leader of Turkey’s main opposition Republic People’s Party (CHP) will attend the party’s central executive board amid ongoing disputes over party leadership (0800 GMT).

TRADE MINISTER

Turkish Trade Minister Ruhsar Pekcan will attend a meeting of the Turkish Exporters’ Assembly (1200 GMT).

For other related news, double click on:

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

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