May 8, 2018 / 4:54 AM / 2 months ago

Turkey - Factors to Watch on May 8

ISTANBUL, May 8 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Tuesday.

The lira stood at 4.2884 against the U.S. dollar at 0453 GMT, easing from a close on Monday of 4.2646.

The yield on the benchmark 10-year bond was at 13.86 percent in spot trade on Monday and rose to 13.92 percent in Tuesday-dated trade.

The main BIST 100 share index fell 1.69 percent to 100,866.24.22 points on Monday.

GLOBAL MARKETS

Oil prices eased slightly on Tuesday, a day after hitting 3-1/2 year highs, as investors braced for President Donald Trump’s decision on whether to withdraw the United States from the Iran nuclear deal, a move that could disrupt global oil supply. Asian shares picked up, helped by technology stocks as generally upbeat earnings overcame weakness in the global smartphone market and concerns about more regulation.

TRUMP’S IRAN DECISION

President Donald Trump will announce on Tuesday whether he will withdraw from the nuclear deal with Iran, Turkey’s neighbour, and a senior U.S. official said it was unclear if efforts by European allies to address Trump’s concerns would be enough to save the pact.

ERDOGAN

President Tayyip Erdogan will make a speech to his ruling AK Party in parliament (0830 GMT). Opposition parties will also hold group meetings in parliament. He will also speak at an opening ceremony to the mark the restoration of 250 historical buildings across Turkey (1030 GMT).

SABANCI HOLDING

The conglomerate posted a net profit of 1.07 billion lira ($250 million) in the first quarter, up 59 percent from a year earlier, it said on Tuesday.

MIGROS

The supermarket retailer announced a net profit of 238.4 million lira ($55.7 million) in the first quarter.

CASH BALANCE

The Treasury will allow its cash balance for April (1430 GMT).

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Istanbul National-100 stock index, interbank lira trading, lira bond trading ($1 = 4.2799 liras) (Writing by Daren Butler)

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