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Turkish bond yields flat; Migros shares down
December 13, 2012 / 5:11 PM / 5 years ago

Turkish bond yields flat; Migros shares down

* Bond yields flat, lira eases

* Migros surrenders early gains

ISTANBUL, Dec 13 (Reuters) - Turkish bond yields were steady on Thursday as investors awaited next week’s rate decision from the central bank. On the stock market, shares in retailer Migros fell after it poured cold water on a report about Wal-Mart interest.

Turkish assets have traded in a narrow band in recent days in anticipation of a cut in interest rates next week as the central bank moves to support a slowing economy.

The yield on the two-year benchmark bond closed flat at 5.75 percent. By 1532 GMT, the lira eased slightly to 1.7805 against the dollar from 1.7777 late on Wednesday. Against its euro-dollar basket , it edged down to 2.0556 from 2.0500.

The main share index closed down 0.57 percent at 76,963 points, underperforming a rise of 0.18 percent in the global emerging markets index.

Shares in Migros closed 2.65 percent lower at 22 lira, erasing gains of almost 9 percent in early trade, after the firm poured cold water on a report that Wal-Mart Stores Inc was in talks to buy an 80 percent stake.

The Financial Times said Wal-Mart was in talks to buy the stake from London-based private equity group BC Partners, but Migros said in a statement that such talks were “a regular part of the workflow” for the private equity firm. (Writing by Seltem Iyigun; Editing by Nick Tattersall)

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