Turkey Wake-up call: Macro, Political and Equity News, 26th April
BIST climbed 0.41% yesterday as the early morning losses on sour global sentiment were reversed quickly as the revised tender call price in GARAN pulled up all banking shares and the broader market higher. Banks added 2.86% on average while HALKB was the only weak spot. TTKOM, SAHOL, TUPRS, KCHOL, KORDS, AKSA, GSDHO, and BRISA led the non-bank gainers while REITs, PGSUS, ODAS, TAVHL, GUBRF, SELEC, and VESTL stood out among the decliners in the BIST100 universe. Today, we have a muted local macro agenda and we foresee a positive open for the BIST given the better sentiment in global markets and the strength in BIST30 futures in evening trades. U.S. futures are up 0.1% in early trades but this comes on top of the c.1.8% overnight gains after the hour we left. Asian markets present a more mixed picture though.
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