August 22, 2012 / 5:40 AM / 5 years ago

Turkey - Factors to Watch on Aug 22

ISTANBUL, Aug 22 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Wednesday.

The lira was at 1.7927 against the dollar at 0536 GMT, having been at 1.8025 late on Friday before a public holiday to mark the end of the Muslim fasting month of Ramadan.

Bonds yields were steady last Friday with Turkey’s two-year benchmark yield dipping to 7.72 percent from a close of 7.74 percent a day before.

Istanbul’s main share index ended the week 1.3 percent higher at 65,758.47 points. It outperformed a 0.42 percent fall in the MSCI emerging markets index.

GLOBAL MARKETS

Asian shares slipped on Wednesday as slumping Japanese exports reminded investors of the risks the euro zone debt crisis poses to regional economies, but the euro held steady on expectations the European Central Bank will act to rein in surging borrowing costs. A rise in the CBOE Volatility Index , a gauge of Wall Street’s sensitivity to risk, and a pause in the recent run-up in U.S. Treasury yields, however, suggested investors were yet to be convinced that Europe’s three-year crisis is close to resolution.

POLITICAL LEADERS IN GAZIANTEP

President Abdullah Gul, Prime Minister Tayyip Erdogan and other political leaders will attend a funeral in the southeastern city of Gaziantep for the victims of a car bomb attack on Monday.

GUL TO TRAVEL TO KYRGYZSTAN

President Gul will travel to Bishkek for a conference of Turkic-language speaking nations.

DEBT STOCK

The Treasury will aNnounce debt stock data for July (1400 GMT).

GENEL ENERGY

Heritage Oil will sell part of a gas block and borrow money from Genel Energy to raise $450 million. Heritage also said it will sell a 26 percent stake in Miran Block in Iraq’s autonomous Kurdistan region to Genel and will take a $294 million loan from the company.

ROCKWELL AUTOMATION

The U.S. maker of systems that help factories run more smoothly plans to invest some $200-250 million in Turkey, Haberturk newspaper reported.

BIMEKS

The electronics retailer has applied to the Capital Markets Board to issue a bond of up to 50 million lira ($28 million).

Note: For a list of forthcoming events, see.

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