October 17, 2012 / 5:51 AM / 5 years ago

Turkey - Factors to Watch on Oct 17

ISTANBUL, Oct 17 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Wednesday.

The lira was at 1.8000 against the dollar at 0532 GMT, firming from 1.8063 late on Tuesday.

The main share index rose 0.73 percent to 70,281 on Tuesday. The yield on Turkey’s two-year benchmark bond closed at 7.44 percent from Monday’s 7.55 percent.


Asian shares rose to their highest in more than five months as strong U.S. earnings reports lifted investor mood. The euro hit a one-month high against the dollar as Spain retained an investment-grade debt rating. U.S. crude futures inched higher.


President Abdullah Gul sent back to parliament late on Tuesday a constitutional amendment bringing local elections forward by five months, averting a referendum after the draft failed to win enough lawmakers’ votes to become law outright.

Gul’s decision will force parliament to debate again on the amendment.


Parliament’s budget committee is due to debate a draft capital markets law.


The automotive manufacturer owned by Koc Holding plans to produce all of its armoured military vehicles in Kazakhstan, Dunya newspaper reported.


The pharmaceutical manufacturer has mandated its board to begin talks on the sale of its 50 percent stake in the consumer products unit EBC Kozmetik to its partner in the venture, Germany’s Beiersdorf, according to a filing with the stock exchange late on Tuesday.

Note: For a list of forthcoming events, see.

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Istanbul National-100 stock index, interbank lira trading, lira bond trading (Writing by Ayla Jean Yackley)

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