Turkey Wake-up call: Macro, Political and Equity News, 13th July
BIST added 0.35% in quiet trading during its half-day session last Friday before the 2.5-day Eid holiday. THYAO, EREGL, SISE, KRDMD and KOZAL were some of the fewer gainers for the day while YKBNK, GARAN, TCELL, AKSEN and TUPRS topped the decliners. Today, our local macro agenda showcases the unemployment statistics for May'22 to be released at 10AM local time. We anticipate a negative start for the BIST given the sour sentiment in global markets. Lira is a bit weaker with USDTRY around the 17.38 mark vs 17.31 at the time of BIST closing bell last Friday, possibly reflecting Fitch's unscheduled cut of Turkey's sovereign rating to B from B+.
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