Turkey Wake up call: Macro, Political and Equity News, 19th June
BIST climbed 1.40% yesterday in a move spearheaded by TCELL. After an uptick start that marked the lowest point of the day, BIST100 ascended by 11AM to the 111.8-112.7k range where it cruised for the rest of the day. Close at 112.5k was the highest in 3.5 months. Banks again fell behind with the 0.35% gain in their index. Strength in non-financial blue-chips like TCELL, TTKOM, KRDMD, PETKM, ASELS, BIMAS, TKFEN, VESTL, and CCOLA boosted the headline index while healthcare & pharma stocks, KCHOL, TATGD, TRGYO, BRISA, and KORDS were among the fewer decliners for the day. Today, our local macro agenda showcases CBT's monthly expectations survey to be revealed at 2:30PM local time. We foresee a slight positive open for the BIST given similar moves in Asian peers as well as the U.S. futures. Lira is barely changed, trading a tad below the 6.86 mark vs the greenback.
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