July 16, 2013 / 5:31 AM / 4 years ago

Turkey - Factors to Watch on July 16

ISTANBUL, July 16 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Tuesday.

The lira was at 1.9330 against the dollar by 0530 GMT, firming slightly from 1.9367 late on Monday. It hit a record low of 1.9737 at the start of last week before rebounding after a series of central bank forex-selling auctions.

The yield on the 10-year bond fell to 9.0 percent from 9.20 percent before the central bank signalled on Monday it could raise interest rates at its next policy meeting on July 23 in response to global policy uncertainty and recent volatility.

The yield on the two-year benchmark bond, which has scarcely traded in the last few weeks, fell to 8.95 percent from 9.13 percent on Friday.

The main share index rose 3.12 percent to 76,227.95 points.

GLOBAL MARKETS

Asian shares inched higher on Tuesday, taking their cue from U.S. stocks after weaker-than-forecast U.S. retail sales growth backed the view that the Federal Reserve will hold off reducing its bond-buying stimulus anytime soon. MSCI’s broadest index of Asia-Pacific shares outside Japan added about 0.1 percent, while the U.S. dollar index edged lower.

TREASURY AUCTIONS

The treasury will tap the benchmark two-year fixed-coupon bond maturing on May 13, 2015 and a 10-year fixed-coupon bond maturing on March 8, 2023.

FENERBAHCE, BESIKTAS

UEFA said Besiktas’ appeal against a ban from European competition had been rejected and it will not be eligible to participate in the 2013/14 UEFA Europa League. Fenerbahce had their appeal partially admitted and were excluded from participating in the next two UEFA club competitions they qualify for, including the 2013/14 UEFA Champions League.

ISDEMIR

Steelworkers at Erdemir unit Iskenderun Demir Celik went on strike from Monday, the company said.

TEB

The bank said it will sell up to 1.75 billion lira ($905 million) of bills and bonds domestically

Note: For a list of forthcoming events, see.

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Istanbul National-100 stock index, interbank lira trading, lira bond trading ($1 = 1.9335 Turkish liras) (Writing by Daren Butler)

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