May 21, 2018 / 5:07 AM / 7 months ago

Turkey - Factors to Watch on May 21

ISTANBUL, May 21 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Monday.

The lira touched a record low of 4.5250 against the U.S. dollar, weakened from a close of 4.4920 on Friday. It stood at 4.5245 at 0459 GMT, bringing its declines so far this year to 16 percent.

The yield on the benchmark 10-year bond was at 14.97 percent in spot trade on Friday and rose to 15.06 percent in Monday-dated trade.

The main BIST 100 share index rose 0.53 percent to 102,410.30 points on Friday.

GLOBAL MARKETS

U.S. stock futures jumped on Monday as U.S. Treasury Secretary Steven Mnuchin said the U.S. trade war with China is “on hold” after the world’s two largest economic powers agreed to drop their tariff threats while they work on a wider trade agreement. S&P mini futures rose 0.6 percent in early Asian trade on Monday while U.S. 10-year Treasuries futures price fell 4.5/32, or 0.12 percent.

BOSNIA RALLY

Turkish President Tayyip Erdogan took a swipe at European countries that refused to let him campaign on their territory on Sunday as he called at a rally in Bosnia for expatriate Turks to vote for him and his ruling AK Party in elections next month.

GALATASARAY

Galatasaray became Turkish league champions for a record 21st time on Saturday, defeating Izmir’s Goztepe 1-0 in their final game of the season thanks to French striker Bafetimbi Gomis’ second-half penalty.

BOSNIA INVESTMENT

The transport ministers of Bosnia and Turkey signed a letter of intent on Sunday for the construction of the highway connecting the two Balkan capitals, a project estimated to cost 3 billion euros ($3.5 billion) but so far blocked by the Bosnian Serbs, who dispute the road route.

FENERBAHCE

Real Madrid clinched a record-extending 10th Euroleague title after overpowering last season’s champions Fenerbahce Istanbul 85-80 in Sunday’s spectacular final of the continent’s premier club basketball competition.

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Istanbul National-100 stock index, interbank lira trading, lira bond trading (Compiled by Ezgi Erkoyun)

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