Turkey - Factors to Watch on Nov 6

ISTANBUL, Nov 6 - Here are press reports, news and events that could affect Turkish financial markets on Friday.

The lira <IYIX=> was trading at 1.4840 against the dollar in early trade, compared with a close of 1.4850 on Thursday. The yield on the benchmark Aug. 3, 2011 bond <0#TRTSYSUM=IS> traded as high as 9.0 percent on Thursday after two debt swap auctions, continuing an upward trend, before closing at 8.90 percent.

The main share index <.XU100> was flat, rising 0.04 percent to 47,298, after jumping 2.04 percent on Wednesday.

GLOBAL MARKETS

Asian stocks rose ahead of the latest U.S. payrolls report on Friday, expected to show the fewest job losses since August 2008, while oil prices recovered after a sharp drop on high U.S. fuel inventories.

The Australian dollar edged further above $0.91 after the Reserve Bank of Australia sharply upgraded growth forecasts and said more gradual increases in interest rates will be required.

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RECOVERY

Finance Minister Mehmet Simsek said Turkey's economy will recover in three stages, and an improvement in inventories will be the first stage. The minister says he predicted increased private sector investments and consumption in early next year when the banks raise their loans, HaberTurk reports.

VESTEL <VESTL.IS>

Turkish electronics goods maker Vestel executive board director Omer Yungul says the company's sales reached $1.2 billion in the first half of this year, and the company targets $3.3 billion sales and $2.5 billion exports by the end of this year.

TURKCELL <TCELL.IS><TKC.N>

Fixed line operator Turk Telekom <TTKOM.IS> said on Thursday a court ruled its mobile competitor Turkcell must pay it 279 million lira in a dispute over interconnection rates. Turkcell, the market leader in Turkey which competes with Turk Telekom's mobile phone firm Avea in the domestic market, said it would appeal the ruling.

NOTE - For a diary of forthcoming events, see [TR/DIARY].

For other related news, double click on: Turkish politics [TR-POL] Turkish equities [TR-E] Turkish money [TR-M] Turkish debt [TR-D] Turkish hot stocks [TR-HOT] Forex news [FRX] All emerging market news [EMRG] All Turkish news [TR]

For real-time quotes, double click on: Istanbul National-100 stock index <.XU100>, Interbank lira trading <IYIX=>, lira bond trading <0#TRTSYSUM=IS>.