May 11, 2018 / 5:06 AM / 5 months ago

Turkey - Factors to Watch on May 11

ISTANBUL, May 11 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Friday.

The lira stood at 4.2416 against the U.S. dollar at 0504 GMT, weakening slightly from a close of 4.2374 on Thursday when it recovered strongly from a record low of 4.3780 a day earlier.

The yield on the benchmark 10-year bond was at 13.71 percent in spot trade on Thursday and fell to 13.53 percent in Friday-dated trade.

The main BIST 100 share index rose 1.59 percent to 102,380.68 points on Thursday.

GLOBAL MARKETS

Asian shares rallied on Friday as risk appetite got a boost from soft U.S. inflation, helping alleviate worries of faster rate hikes by the Federal Reserve, while investors also cheered U.S.-North Korean steps to further ease tensions on the Korean Peninsula. Thursday’s slower-than-expected April consumer price rises followed payrolls data last week which pointed to sluggish wage growth.

ERDOGAN

President Tayyip Erdogan will make a speech at an AK Party youth congress (0800 GMT). He will also speak at a ceremony of Turkey’s Union of Chambers and Commodity Exchanges (TOBB) (1130 GMT).

ERDOGAN-PUTIN TALKS

President Erdogan and his Russian counterpart Vladimir Putin agreed in a telephone call on Thursday that the United States had been wrong to withdraw from a big-power nuclear deal with Iran, a Turkish presidential source said. They also discussed escalating tensions in Syria, the source said.

SOK MARKETLER

A bookrunner of the discount grocer’s initial public offering said its international book will close at 1200 GMT on Friday.

Garanti Securities said Sok will apply to the Capital Markets Board to increase its share capital with a private placement, with a capital inflow of 2.6 billion lira expected to be completed after the IPO.

HALKBANK

The state lender said it posted a net profit of 790.2 million lira ($186 million) in the first quarter, down from 1.22 billion lira in the same period a year earlier.

BOYNER PERAKENDE

The retailer announced a net loss of 156.7 million lira in the first quarter, widening from a loss of 123.5 million lira in the same period a year earlier.

TESLA TURKEY LAUNCH

Tesla Inc CEO Elon Musk says he is planning to launch Tesla in Turkey later this year.

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Istanbul National-100 stock index, interbank lira trading, lira bond trading ($1 = 4.2418 liras) (Writing by Daren Butler)

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