Turkey Wake-up call: Macro, Political and Equity News, 11th February
BIST edged up 0.20% yesterday after some volatile trading. Index opened gap higher and climbed to 1,557 levels in early trades before starting to soften after 11AM. A gradual descent pushed the benchmark BIST100 to 1,536 in late afternoon before it staged some rebound in the last 1.5 hours. Banks fell behind with the 0.25% loss in their sector index. TTKOM, KCHOL, CCOLA, MGROS, KOZAA, DEVA, INDES, and NETAS led the gainers while PETKM, ENJSA, MPARK, OTKAR, YATAS, SOKM, and FROTO were among the decliners. Today, our local macro agenda is muted except for the weekly CBT statistics. BIST seems off to a flattish start with a positive bias given mixed signals from abroad. U.S. futures are up a few points in partial recovery of the 0.1-0.4% overnight losses in main indices after we left while Asian are mostly trading with slight gains.
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