Turkey Wake-up call: Macro, Political and Equity News, 22nd July
BIST retreated 0.55% yesterday, snapping its 3-day winning streak amid some late-afternoon profit-taking. Banks fared relatively better and closed the day with a 0.29% in their sector index. VAKBN, SKBNK, OTKAR, ALARK, TKFEN, GOZDE, GENIL, and ODAS topped the gainers among the BIST100 constituents while TUPRS, TCELL, ENKAI, PGSUS, DEVA, AKSA, KARSN, and HEKTS stood out as weaker spots. Coming to this morning, our local macro agenda is muted. We anticipate an uptick start for the BIST given the 1.0-1.1% overnight gains in main American indices after the hour we left while noting the 0.5% pull-back in S&P futures this morning. Asian bourses, on the other hand, present a pretty mixed picture.
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