Turkey - Factors to Watch on July 25
ISTANBUL, July 25
ISTANBUL, July 25 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Thursday.
The lira was weaker at 1.9225 against the dollar by 0457 GMT, down from 1.9130 late on Wednesday.
The fall took its cue from a rise in the dollar in global markets, boosted by upbeat U.S. housing data and a rise in U.S. Tresury yields which reminded investors that the world's biggest economy was still closer to tempering its monetary stimulus than any other major economy.
The lira hit a record low of 1.9737 earlier in July.
The main Istanbul share index fell 1.79 percent to 74,015 points while the 10-year bond yield was unchanged at 8.75 percent from late on Wednesday.
Asian stocks retreated from seven-week highs on Thursday after Wall Street buckled under profit-taking pressure and as investors were wary as the earnings season got underway, while upbeat U.S. economic news helped the dollar snap a three-day slide.
Turkey's Finance Ministry has launched a tax inspection into Turkey's biggest refiner Tupras and energy company Aygaz, both owned by Turkish conglomerate Koc Holding. Shares in all three companies dropped on the news late on Wednesday.
Turkey's Akbank is expected post a 76 percent rise in its second quarter net profit when it reports its earnings for that period.
Note: For a list of forthcoming events, see.
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Istanbul National-100 stock index, interbank lira trading, lira bond trading (Reporting by Humeyra Pamuk)