Turkey Wake-up call: Macro, Political and Equity News, 27th April
BIST lost 2.59% yesterday as the morning attempts to go higher were quashed by the continued selling pressure in global risk assets. Banks dropped 2.24% on average as the tender call in GARAN provided a cushion for the sector index as other large players like HALKB, YKBNK, and AKBNK underperformed. TCELL, OYAKC, HEKTS, BIOEN, and IPEKE stood out among the rare gainers in the BIST100 space while TUPRS, EREGL, BIMAS, TOASO, PETKM, EKGYO, ASELS, DOHOL, KORDS, GUBRF, and VESTL topped the long array of decliners. Coming to this morning, our local macro and political agenda are muted. BIST seems headed for another weak start amid ongoing sour sentiment in global markets. U.S. futures are up >0.5% in early trades in partial recovery of the c.1.0% overnight losses after we left while Asian markets outside of China are all trading in the red.
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