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Factors to Watch on August 10


Reuters Last Updated at 10 Aug 2018, 11:08 IST Turkey

Here are news, reports, and events that may affect Turkish financial markets on Friday.

The lira hit a new record low of 5.75 against the dollar early on Friday, weakening from Thursday's close of 5.55, and stood at 5.70 at 0528 GMT.

The yield on the benchmark 10-year bond was at 18.85 percent on Thursday's close.

The main BIST 100 share index rose 0.218 percent to 97,185.13 points on Thursday.

GLOBAL MARKETS

Asian stock markets fell on Friday amid heightened global trade tensions, while currency markets were whipsawed by a searing selloff in Russia's rouble after the United States slapped on new sanctions, and as economic worries sent the Turkish lira tumbling.

U.S. TENSIONS

The Turkish delegation that met U.S. officials to try to resolve disputes between the two NATO allies arrived back in Turkey on Thursday, a foreign ministry source said.

TURKISH LIRA

Turkey's lira tumbled to another record low against the dollar on Thursday after a Turkish delegation returned from meeting U.S. officials in Washington with no apparent solution to a diplomatic rift that has opened up between them.

FITCH

Turkey needs to halt the sharp slide of the lira quickly, credit rating agency Fitch said on Thursday, warning the country's situation had worsened since its downgrade just a month ago.

TURKISH AIRLINES

Turkish Airlines is interested in acquiring a stake in an airport operator in its core business area but has not settled on a specific airport, the company's chief executive Ilker Ayci said on Thursday.

PRESIDENT ERDOGAN

Turkish President Tayyip Erdogan will kick off a tour of the country to thank voters for re-electing him in the June elections. He will make a speech in the northeastern province of Bayburt (1100 GMT) and later attend an opening ceremony in the Gumushane province (1330 GMT).

NEW ECONOMIC MODEL

Finance Minister Berat Albayrak will announce the country's new economic model at an event in Istanbul (1130 GMT).

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Istanbul National-100 stock index, interbank lira trading, lira bond trading.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

COUNTRY :
Turkey

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