Turkey - Factors to Watch on April 24
Here are news, reports and events that may affect Turkish financial markets on Friday.
The lira traded at 6.9825 against the dollar at 0430 GMT, slightly weaker than Thursday's trade at 6.9800. The main BIST 100 share index rose 0.57% on Wednesday to 98.170,98 points. Thursday was a national holiday in Turkey, and the stock exchange was closed to trade.
GLOBAL MARKETS Asian shares and U.S. stock futures fell on Friday, spurred by doubts about progress in the development of drugs to treat COVID-19 and new evidence of U.S. economic damage caused by the coronavirus pandemic.
CORONAVIRUS Turkey's confirmed cases of the COVID-19 disease increased by 3,116 in the past 24 hours, and 115 more people have died, taking the death toll to 2,491, Health Ministry data showed on Thursday.
Turkish is on the second day of a four-day lockdown in 31 cities from Thursday as part of efforts to stem the spread of the coronavirus. CENTRAL BANK POLICY RATE
Turkey's central bank cut interest rates to 8.75% on Wednesday, risking further lira weakness, in a bigger-than-expected move aimed at limiting the economic damage of the coronavirus crisis. FITCH
Turkey's fiscal response to the coronvirus outbreak has been "pretty moderate" compared with other countries facing a similar fallout from the epidemic, and has capacity for further stimulus measures, a Fitch Ratings executive said on Thursday. TAV HOLDING
TAV Airports posted a loss of 376.7 million TL in the first quarter. The company's net profit was 145.6 million lira in the same period last year. CAPACITY UTILISATION
Central bank will announce capacity utilisation rate for April. The rate, which hit a near four-year low of 74% in February 2019, is a measure of how much of the economy's potential output is being used. (0700 GMT) MANUFACTURING CONFIDENCE
Central bank will announce business confidence data among Turkish manufacturers in April. (0700 GMT) For other related news, double click on:
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For real-time quotes, double click on: Istanbul National-100 stock index, interbank lira trading, lira bond trading (Writing by Ece Toksabay)
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