May 14, 2020 / 6:03 AM / 23 days ago

Turkey - Factors to Watch on May 14

ISTANBUL, May 14 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Thursday.

The lira traded at 6.9685 against the dollar at 0447 GMT, little changed from Wednesday’s close of 6.9790.

The main BIST 100 share index rose 0.55% to 100,159.13 points on Wednesday.

GLOBAL MARKETS

Asia’s stock markets fell and gold hit a one-week high on Thursday as worries about a second wave of coronavirus infections and a dour assessment of the way back from the head of the U.S. Federal Reserve dashed hopes for a quick recovery.

CORONAVIRUS

The number of people who have died from COVID-19 in Turkey rose by 58 in the last 24 hours to 3,952, Health Ministry data showed on Wednesday. The overall number of cases rose by 1,639 to 143,114, the data showed.

INDUSTRIAL PRODUCTION

The Turkish Statistical Institute will announce industrial production data for March (0700 GMT). Output is expected to have expanded 1.8% annually in March, slowing from previous months due to the initial economic impact of the coronavirus outbreak.

ISBANK

The Milliyet newspaper reported that President Tayyip Erdogan brought up the issue of the main opposition Republican People’s Party (CHP) stake in Isbank at an AK Party meeting this week. Erdogan has called on various occasions for the 28% stake to be transferred to the Treasury.

TRADE MINISTER

Trade Minister Ruhsar Pekcan will hold a video conference with EU ambassadors (0800 GMT).

FOREIGN MINISTER

Foreign Minister Mevlut Cavusoglu will speak by video conference with Foreign Economic Relations Board (DEIK) head Nail Olpak (1230 GMT).

CENTRAL BANK DATA

The Turkish Central Bank will announce its weekly data, including on central bank reserves (1130 GMT).

DEPUTY ENERGY MINISTER

Deputy Energy Minister Alparslan Bayraktar will speak at an Atlantic Council meeting (1400 GMT).

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Istanbul National-100 stock index, interbank lira trading, lira bond trading (Compiled by Daren Butler)

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