June 17, 2020 / 4:55 AM / 19 days ago

Turkey-Factors to Watch on June 17

ISTANBUL, June 17 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Wednesday.

The lira stood at 6.8325 against the U.S. dollar at 0500 GMT, firming from Tuesday’s close of 6.8480.

The main BIST 100 share index rose 1.26% to 110,939.66 on Tuesday.

GLOBAL MARKETS

Asian share markets took a breather on Wednesday as a resurgence of coronavirus cases challenged market confidence in a rapid economic recovery, even as the rebound in U.S. retail sales in May broke all records.

Geopolitics also lurked as a worry with India reporting 20 of its soldiers had been killed in clashes with Chinese troops at a disputed border site.

North Korea rejected a South Korea offer to send special envoys and vowed to send back troops to the border.

CORONAVIRUS

The number of new coronavirus cases in Turkey rose by 1,467 in the last 24 hours, Health Ministry data showed on Tuesday, nearly double the level to which they had fallen in early-June when Ankara lifted travel restrictions and reopened facilities.

Turkey may have to adopt a harder line on social interactions following a worrying jump in COVID-19 cases but it has no plans to reverse an easing of lockdown restrictions aimed at reviving the economy, officials say.

Health Minister Fahrettin Koca will give the latest updates on the status of the outbreak in Turkey following a meeting of the advisory Science Council.

LIBYA

Turkey and Libya’s internationally recognised government are discussing possible Turkish use of two military bases in the North African country, a Turkish source said on Monday.

France wants talks with NATO allies to discuss Turkey’s increasingly “aggressive” and “unacceptable” role in Libya, a French presidential official said on Monday, underscoring increased tensions between Ankara and Paris.

ERDOGAN PROGRAMME

President Tayyip Erdogan will meet with Devlet Bahceli, head of the Nationalist Movement Party (MHP) (1100 GMT). He will then host the Labour Minister and labour union heads (1200 GMT), head of the Higher Education Council (1300 GMT), and later the parliament speaker (1430 GMT).

ITALY

Italian Foreign Minister Luigi Di Maio will be on an official visit to Turkey. He and his Turkish counterpart Mevlut Cavusoglu will hold a press conference (1315 GMT).

IRAQ OPERATION

Turkey’s Defence Ministry said its warplanes struck Kurdish militant targets in northern Iraq’s Haftanin region on Wednesday, the second such operation launched against the Kurdistan Workers Party (PKK) in recent days.

LIBYA

Turkey angrily accused France on Tuesday of exacerbating the crisis in Libya and violating U.N. and NATO decisions by supporting the forces of Khalifa Haftar against the internationally recognised Government of National Accord (GNA).

TELIA

Turkey’s Wealth Fund is in advanced talks to buy a $530 million stake in telecom company Turkcell that is owned by Telia, the Swedish telecom company said on Tuesday.

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Compiled by Ali Kucukgocmen; editing by Uttaresh.V

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