February 10, 2017 / 5:10 AM / 3 years ago

Turkey - Factors to Watch on Feb 10

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

The lira stood at 3.6865 against the dollar at 0509 GMT, almost unchanged from 3.6826 at Thursday’s close.

The yield on the benchmark 10-year bond was at 10.91 percent in spot trade on Thursday and edged down to 10.90 percent in Friday-dated trade.

The main share index rose 0.66 percent to 88,830.21 points on Thursday.


Asian shares rallied to an 18-month peak on Friday, as investors cheered upbeat Chinese trade data and strong gains on Wall Street after U.S. President Donald Trump promised to unveil a major tax announcement to lower the burden on businesses. China’s January exports rose 7.9 percent from a year earlier, while imports jumped 16.7 percent, beating expectations, preliminary data showed, getting the economy off to a strong start in 2017.


Russian air strikes on Thursday accidentally killed three Turkish soldiers during an operation against Islamic State in Syria, the Turkish military said, highlighting the risk of unintended clashes between the numerous outside powers in a complex war.


President Tayyip Erdogan and Prime Minister Binali Yildirim will attend an opening ceremony for a natural gas storage facility in the central Turkish province of Aksaray (1130 GMT).


U.S. Vice President Mike Pence told Yildirim it was a “new day” in Turkish-U.S. relations in a phone call on Thursday to discuss cooperation in the fight against terrorism, Yildirim’s office said in a statement.


Fund managers who attended a Turkish central bank presentation in London came away not entirely convinced. But they had some sympathy for Governor Murat Cetinkaya, who must balance controlling inflation - currently over 9 percent - with President Erdogan’s constant demands for lower interest rates.


The consumer goods manufacturer said 2016 net profit rose to 325.0 million lira ($88.23 million) from 163.9 million a year earlier.


The commercial and military vehicle manufacturer said2016 net profit fell to 69.7 million lira ($18.93 million) from 79.5 million lira a year earlier.


Metro Holding said it will restart an IPO process for its unit Metro Turizm Seyahat Organizasyon ve Ticaret AS which was initiated in Jan. 2014 but postponed due to market conditions.

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

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