Turkey Wake up call: Macro, Political and Equity News, 13th August
BIST inched up 0.37% yesterday in the fourth consecutive day of gains amid profit taking in some names. After an uptick open, BIST100 index dipped at 1,096 around 11AM followed by a recovery and sideways trading in slight positive territory for the rest of the day. Banks lagged after Tuesday's rally and lost 0.21% on average. KRDMD, CCOLA, TTKOM, ARCLK, TCELL, BIMAs, GUSGR, and ODAS led the non-bank gainers while MGROS, ULKER, TAVHL, TOASO, DOAS, and BIZIM stood out among weakest spots. Today, our local macro agenda involves CBT's monthly expectations survey to be revealed at 2:30PM local time. A flattish open is in the cards for the BIST as the weakness in lira (USDTRY at 7.3280 now vs 7.3013 at yesterday's closing bell) may curb the optimism from the strength in Asian markets.
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