ETF Ishares Msci Turkey

[IlPorcospino]

Foreign capital inflows to Turkey have halted, meaning the bank’s prediction that inflows will continue to pressure the current account may be wrong, said Ergun Ozen, chief executive of Turkiye Garanti Bankasi AS, according to Milliyet.
Higher oil prices also present risks to the central bank’s expectation that inflation will stay low, Ozen said, according to the Istanbul-based newspaper.
Products such as bonds sold by banks will be more effective in encouraging longer-term savings than moves by the central bank to increase reserve requirements for deposits with a shorter term, Milliyet said citing Ozen.

 

[IlPorcospino]

Turchia, partenza boom delle esportazioni nel 2011
L’export turco spinge sull’acceleratore e a gennaio segna un aumento del 22,7% rispetto allo stesso mese del 2010. Secondo i numeri dell’Associazione degli esportatori turchi (Tim), Ankara si prepara così a superare i record commerciali stabiliti lo scorso anno. Automobili, abbigliamento e chimica sono i settori in maggiore espansione, già alla base dell’incremento del 13,4% dell’export nazionale tra gennaio 2009 e gennaio 2010.
Sempre più l’industria turca guarda oltre i mercati mediorientali. Il primo importatore da Ankara è la Germania, seguita lo scorso anno dall’Italia, davanti a Iraq, Gran Bretagna, Francia, Russia. Chiudono la top ten Stati Uniti, Spagna, Iran ed Emirati Arabi. Intanto il Centro studi sulla produttività nazionale (Mpm) ha attestato un aumento della redditività procapite dei lavoratori del settore manifatturiero del 3,9%. Il dato è relativo all’ultimo trimestre del 2010 e il suo aumento è calcolato rispetto allo stesso periodo dell’anno precedente.

 

[IlPorcospino]

Turchia, interessi francesi sui nuovi impianti nucleari
Ankara punta a costruire 20 impianti nucleari sul suo territorio entro il 2030. L'obiettivo del governo turco è stato reso noto alla stampa internazionale dal sottosegretario per l'Energia e le Risorse naturali, Metin Kilci.
Secondo il membro del governo, non si tratta di un piano velleitario, ma di un'aspirazione proporzionata alla grandezza del paese e alle sue prospettive di crescita economica. Per l'ambasciatore francese in Turchia, Bernard Emie, aziende transalpine come Areva, Edf e Gdf Suez, già presenti ad Ankara, guardano con molta attenzione ai progetti nucleari del governo. Intanto lo sviluppo delle prime due centrali atomiche è stato affidato a compagnie russe e giapponesi. Ma ci sono buone notizie anche per le imprese di Ankara. Secondo una ricerca della società di consulenza, DinarStandard, tra le prime 100 compagnie dei paesi musulmani, 20 sono turche. La più importante, la Koç Holding, è addirittura in decima posizione. La Turchia è il paese più rappresentato in questa speciale classifica.

 

[IlPorcospino]

Turkey Yields Extend Gains to Six-Month High on Inflation, Egypt
By Mark Bentley and Selcuk Gokoluk - Feb 4, 2011 11:21

Turkish bonds weakened for a second day, with yields surging to the highest level in almost six months after January inflation topped estimates and Egyptian protests continued before Friday prayers.
Yields on two-year benchmark bonds gained as much as 25 basis points to 8.50 percent, and traded up 13 basis points to 8.38 percent at 11:55 a.m. in Istanbul, the highest since Aug. 11. The lira weakened 0.5 percent to 1.6022 per dollar.
The Turkish central bank said in a report today that it expects “limited increases” to measures of core inflation over the coming months after the statistics agency in Ankara said yesterday January inflation reached 4.9 percent. Analysts had forecast 4.6 percent. Egyptians poured into Cairo’s Tahrir Square before Friday prayers, raising the prospect of an escalation in violence as protesters rejected overtures from President Hosni Mubarak.
“The markets had assumed that the central bank knows something the markets didn’t know about inflation when it started cutting rates,” Bulent Topbas, a portfolio manager at Strateji Menkul Degerler in Istanbul, said in e-mailed comments. “Yesterday’s data showed this is not the case.”
Policy makers cut Turkey’s benchmark interest rate by 75 basis points in the past two months to a record low of 6.25 percent and raised reserves for banks to prevent a credit bubble and discourage “hot money” inflows.
Turkey central bank is targeting inflation of 5.5 percent this year.
The main share index fell 0.6 percent to 63,319.24.

 

[ibbius]

Ha ripreso a salire con decisione, oltre il 3 % nell'ultima seduta, speriamo che sia il segnale di un deciso e duraturo rialzo.
Adesso deve arrivare a 30 e da li si vedrà.

 

[IlPorcospino]

Ha ripreso a salire con decisione, oltre il 3 % nell'ultima seduta, speriamo che sia il segnale di un deciso e duraturo rialzo.
Adesso deve arrivare a 30 e da li si vedrà.

Non ci dimentichiamo che la quotazione dipende anche dal cambio eurtry che sta migliorando, nel senso che il try ha riportato il cambio verso 2,15. Speriamo in una buona settimana anche perche' in Egitto le cose stanno andando meglio. Intanto in turchia l'inflazione si mantiene sotto i 5,5 e i tds raggiungono un rendimento superiore all'inflazione.

 

[IlPorcospino]

Ancora un bagno di sangue.

Turkey Stocks to Top Bonds on Economy, Is Asset Management Says
By Selcuk Gokoluk - Feb 10, 2011 7:52 AM GMT+0100 Tweet More
Turkish stocks will probably outperform government bonds over the next decade as prospects for economic growth lure investors, the country’s biggest fund manager said.
The ISE National 100 Index of stocks has rallied 29 percent in the past year, compared with a 5.3 percent return for the RBS Istanbul Benchmark Bond Index, according to data compiled by Bloomberg. Equities have gained the equivalent of 21 percent a year since the end of 2004, compared with a 16 percent increase for bonds, the data based on weekly performance show.
“Turkey is a high-growth country with a young population and our stock market may fall in a year occasionally but its 10- year trend is always positive,” Gurman Tevfik, chief executive officer at Is Asset Management, said in an interview at his office in Istanbul.
The country’s debt, which is rated BB at Standard & Poor’s, two levels below investment grade, should be raised to BBB, two steps above junk, according to Tevfik.

 

[IlPorcospino]

Story link: Turkish Lira Currency Prediction - Lira Weighed Down by Interest Rate Predictions
TAGS: Turkish Lira Forecasts Pound Lira Forecasts
10-2-2011
The Turkish Central Bank’s Monetary Policy Committee is due to meet next Tuesday to decide on policy for the coming month. The New Turkish Lira weakened during today’s trading session on speculation that the meeting will herald a further interest rate cut. The Turkish MPC has chosen to cut base rate by 75 basis points in the last two meetings, leaving current rates at a record low of 6.25%.
Meanwhile, Turkey’s ISE National 100 Share Index has performed well, rallying to a two week high earlier in the week, as domestic investors shift out of fixed-income assets and seek a healthier return on their holdings.
Earlier this week, Turkish Central Bank Governor Durmus Yilmaz commented that Turkey may keep rates low ‘for a long time’ in order to stem inward flows of short-term capital into Turkish financial markets. The Governor feels that these inflows are causing the Turkish current account deficit to widen and that a loosening of monetary policy will keep this increasing trade gap under control.
The Turkish Lira continues to act as a hedge currency for traders adjusting their positions according to developments in the political situation in Egypt. Egyptian authorities have acted to control inward and outward flows of the Egyptian Pound, so investors are using the Lira as a proxy as developments occur due to Turkey’s geographical proximity to Egypt. In reality, Turkey has stronger links with Europe than with the Arab world, even though it remains officially an Islamic state. However, the foreign currency markets do not always work in a logical way and the Lira may remain under pressure until control of power in Egypt is wrested from President Mubarak.

 

[IlPorcospino]

Cosa è successo al mio Lyxor Turkey? Perché perdo tanto?

Perdo tanto per l’effetto combinato dell’indice del sottostante (ISE) e del cambio eurtry (gli asset del fondo sono denominati in try e il try si sta svalutando rispetto all'eur):

Meditare ...

 

[IlPorcospino]

NEW TURKISH LIRA

The Lira broke a three day losing run during today’s trading session following yesterday’s decision by the Turkish Central Bank to maintain interest rates at their current level of 6.25%. In its accompanying statement, the central bank referred to inflationary risks, sparking speculation that Turkey’s rate-cutting cycle is at an end. NEAR-TERM OUTLOOK – NEUTRAL TO POSITIVE.