Turkey Wake-up call: Macro, Political and Equity News, 2nd August
BIST added 2.47% yesterday on the back of inflows in various blue-chips and despite the weakness in global bourses. Banks performed in line with the broader market, gaining 2.45% on average. SISE, SAHOL, CCOLA, KRDMD, VESTL, ISMEN, ENJSA, and grocery chains topped the long list of gainers while OTKAR, SNGYO, AYDEM, NTHOL, and KARSN stood out among the handful of decliners in the BIST100 universe. Coming to this morning, we have a muted local macro and political agenda and will keep an eye on comments from Central Bank Governor Kavcioglu who will attend the sectoral evaluation meeting of the Union of Chambers of and Commodity Exchanges (TOBB) starting at 2PM local time. BIST seems off to a downtick open given the sour sentiment in global markets on rising tensions between the U.S. and China. U.S. futures are down c.0.4% in early trades and Asian bourses are all trading in the red with the most pronounced losses in Japanese and Chinese indices.
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