November 7, 2019 / 4:36 AM / 11 days ago

Turkey - Factors to Watch on Nov 7

ISTANBUL, Nov 7 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Thursday.

The lira traded at 5.7610 against the U.S. dollar at 0432 GMT, weakening from a close of 5.7540 on Wednesday.

The yield on the benchmark 10-year bond rose to 12.93% on Wednesday from 12.68% on Tuesday.

The main BIST 100 share index rose 0.62% on Wednesday to 101,143.74 points.

GLOBAL MARKETS

Asian shares managed to cling near multi-month peaks on Thursday while bonds eked out a bounce as reports of delays in sealing a preliminary Sino-U.S. trade deal left investors frustrated at the lack of concrete progress. MSCI’s broadest index of Asia-Pacific shares outside Japan eased a slight 0.1%, just off a six-month high hit earlier in the week.

ERDOGAN’S HUNGARY VISIT

President Tayyip Erdogan will visit Hungary and will hold talks with the country’s leaders. He is expected to hold a joint news conference with Prime Minister Viktor Orban.

ERDOGAN TO MEET TRUMP

President Erdogan spoke by phone with U.S. President Donald Trump on Wednesday and the two leaders reconfirmed they will meet in Washington on Nov. 13 at Trump’s invitation, Turkish officials said.

SENATORS PRESS FOR SANCTIONS

Republican and Democratic U.S. senators asked President Trump’s administration on Wednesday to let them know - and to respond with touch sanctions - if reports are true that Turkey is violating a ceasefire agreement in Syria.

EBRD FORECASTS

Turkey’s economy will likely contract slightly this year before growing at 2.5% in 2020 but it remains vulnerable to geopolitical tensions after its military incursion in Syria, the European Bank for Reconstruction and Development (EBRD) said.

TURKISH AIRLINES RESULTS

The flag carrier said net profit fell to 3.71 billion lira ($644 million) in the third quarter from 3.96 billion in the same period a year earlier.

ISBANK RESULTS

The lender said its net profit rose to 1.35 billion lira in the third quarter from 1.24 billion a year earlier.

VESTEL

The consumer electronics company said its net profit rose to 113.5 million lira in the third quarter from 21.2 million the previous year.

ANADOLU EFES

The beer maker posted a net profit of 585.4 million lira in the third quarter, compared with a loss of 66.1 million lira a year earlier.

TREASURY CASH BALANCE

The Treasury will announce cash balance data for October (1430 GMT).

CENTRAL BANK DATA

The central bank will announce its weekly data, including on forex reserves (1130 GMT).

BAHGDADI’S WIFE

Turkey has captured a wife of Abu Bakr al-Baghdadi, President Erdogan said on Wednesday, more than a week after the Islamic State leader killed himself during a raid by U.S. special forces in northern Syria.

For other related news, double click on:

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Istanbul National-100 stock index, interbank lira trading, lira bond trading ($1 = 5.7599 liras) (Compiled by Daren Butler)

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