Turkey Wake-up call: Macro, Political and Equity News, 11th August
BIST climbed 0.34% yesterday as the afternoon rebound reversed the early morning softness while gains in lira also helped the sentiment. Banks added 0.76% on average while a closing session seller pushed heavyweight GARAN lower. Grocery chains led by BIMAS, TOASO, SISE, DOHOL, and EGEEN topped the non-bank gainers while EREGL, TKNSA, BRISA, KORDS, TTRAK, and INDES were some of the weak spots. Coming to this morning, our local macro agenda is muted. BIST seems headed for a flattish open in absence of visible triggers in either direction. U.S. futures are down a few points in early trades, Asian markets are mixed, and lira is a tad weaker (USDTRY at 8.62 levels vs 8.6158 at yesterday's closing bell).
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