Turkey Wake-up call: Macro, Political and Equity News, 20th April
BIST edged up 0.36% yesterday as the afternoon pullback in the benchmark index was followed by a V-shaped recovery after 4:30PM. Banks lost 1.33% on average, as private banks seemed to be yielding to profit-taking while the two state lenders remained firm. ARCLK, THYAO, EREGL, TUPRS, ODAS, DEVA, GENIL, KORDS, ENJSA, PGSUS, and AKSEN led the non-bank gainers while TTKOM, ASELS, SELEC, GOZDE, OYAKC, and Koza Group names were among the weaker spots. Coming to this morning, our local macro agenda is totally muted. BIST seems off to a sideways start given mixed signals from abroad. U.S. futures are down over 0.4% in early trades as they totally reverse the overnight gains after we left while Asian markets outside of China are mostly trading in the green.
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