Turkey Wake-up call: Macro, Political and Equity News, 14th April
BIST managed to eke out a 0.18% gain yesterday after staging a 1.9% rebound from its morning lows. Banks fared better with a 0.54% gain for their sector index as AKBNK and GARAN caught some bids. EREGL, ULKER, FROTO, OTKAR, TTRAK, PETKM, and CCOLA were among the non-bank gainers that supported the headline index while MGROS, SOKM, VESTL, AKSA, TATGD, and DEVA led the decliners for the day. Coming to this morning, our local macro agenda is mostly muted except for the Treasury's offer of 3-year gold bonds and 3-year gold-indexed sukuk papers via direct sales in the domestic market. BIST seems headed for an uptick start given the more supportive sentiment abroad and some strength in lira (USDTRY at 7.1250 levels vs 8.1463 at yesterday's closing bell). U.S. futures are up a few points and majority of the Asian indices are trading in the green.
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