Turkey Wake-up call: Macro, Political and Equity News, 26th July
BIST climbed 1.27% yesterday as the index gained traction after 11AM and held onto its gains until the close. Banks outshined the broader market with the 4.01% jump in their sector index as ISCTR and VAKBN led the peers before the 2Q22 earnings season kicking off today. FROTO, AEFES, CCOLA, ODAS, LOGO, GWIND, and MAVI topped the non-bank gainers while MGROS, AGHOL, NTHOL, OTKAR, KARSN, DOAS, and AKSA were among the fewer decliners in the BIST100 universe. Coming to this morning, we have a muted local macro and political agenda. BIST seems off to a flattish start given mixed signals from global markets. U.S. futures are down c.0.3% in early trades while Asian bourses are moving in different directions. Lira is wobbly with the USDTRY pair cruising just above the 17.85 mark vs 17.8270 at yesterday's closing bell.
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