Turkey - Factors to Watch on June 20

ISTANBUL, June 20 Wed Jun 20, 2012 1:10am EDT

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ISTANBUL, June 20 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Wednesday.

The lira was at 1.7985 against the dollar at 0508 GMT, slightly firming from 1.7992 late on Tuesday.

The yield on Turkey's benchmark bond maturing in March 2014 ticked down to close at 9.09 percent from a previous close of 9.12 percent, after a successful benchmark tap where the treasury borrowed a total of 1,695.2 million lira ($936 million) far above bankers' estimates of 970 million lira.

Istanbul's main stock index closed 1.67 percent up at 58,299 point, outperforming a 0.9 percent rise in the MSCI emerging markets index.

GLOBAL MARKETS

Asian shares rose on Wednesday and the euro clung to most of the previous session's gains as investors bet that Europe's worsening debt crisis and faltering global growth will prompt major central banks to launch a new round of monetary stimulus.

The U.S. Federal Reserve concludes a two-day policy meeting later, with expectations high that the central bank will extend its bond-buying programme dubbed "Operation Twist".

G20 SUMMIT

Prime Minister Tayyip Erdogan on Tuesday held talks with U.S. President Barack Obama at the G20 Summit in Los Cabos, Mexico. Obama and Erdogan stressed the need for a political transition that ends the violence in Syria, the White House said.

PKK CLASHES

Turkish soldiers and Kurdish militants clashed on Tuesday in the most intense battles of the separatist conflict this year, with 26 combatants killed in fighting at three army outposts in the southeast, officials and security sources said. 

EUROBOND SALE

Turkey borrowed $1 billion via a tap sale of a 2041 dollar-denominated eurobond with a yield of 5.75 percent on Tuesday, bankers told Reuters. They said demand came to around $7 billion.

DEBT STOCK

The Treasury is due to release data on the central government gross debt stock in May at 1400 GMT.

BAXTER INTERNATIONAL

Industry Minister Nihat Ergun said that U.S. drug maker Baxter will invest $170-$180 million in Turkey to produce a new drug for the immune system, according to Sabah newspaper.

Note: For a list of forthcoming events, see.

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