Turkey Wake-up call: Macro, Political and Equity News, 21st October
BIST added 0.42% yesterday, climbing to an 8.5-month high at the close after a day of ups and downs. Benchmark BIST100 tested the 1,202 support four times in bouts of profit-taking but managed to rebound every time. Banks gained 0.58% on average driven by the strength in YKBNK and TSKB while GARAN and AKBNK closed slightly lower. TTKOM, DOAS, TOASO, EGEEN, NETAS, and TRGYO led the non-bank gainers while TCELL, CCOLA, TKFEN, VESTL, MPARK, and ODAS were among the weak spots. Coming to this morning, we have a muted local macro agenda ahead of tomorrow's MPC meeting. BIST seems off to a slight positive start given global optimism about progress on stimulus talks in Washington. U.S. futures are up almost 0.5% in early trades and Asian indices outside of China are mostly trading in the green.
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