Turkey Wake up call: Macro, Political and Equity News, 18th August
BIST ended up 0.22% higher after a day of ups and downs in a 23-point range yesterday. It was the 1.33% gain in the banking index that supported the broader market this time as the heavyweight GARAN seemed to catch some institutional bids. PETKM, ASELS, KRDMD, MGROS, TUPRS, GLYHO, and Koza Group stocks topped the non-bank gainers while TTKOM, AKSA, DEVA, SOKM, HEKTS, GUSGR, and aviation stocks were among the weakest names. Coming to this morning, our local macro agenda is muted and we anticipate a flattish open for the BIST in absence of visible triggers in either direction. Lira is a tad stronger vs the greenback with the USDTRY pair trading in the 7.38-7.39 range. U.S. futures are up a few points and Asian equities are trading mixed.
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