Turkey Wake-up call: Macro, Political and Equity News, 2nd October
BIST slipped 0.15% yesterday after a day that was mostly spent in the positive territory. Benchmark BIST100 tested a daily high of 1,155 around 4PM, followed by a 12-point decline until the close. Banks fared marginally better with the 0.17% gain in their sector index. Koza Group stocks, TOASO, CCOLA, SOKM, BRISA, CLEBI, TURSG, and AGHOL led the non-bank gainers while SISE, ASELS, ARCLK, CIMSA, LOGO, and INDES topped the laggards. Today, we have a quiet local macro agenda but the U.S. President Trump testing positive for Covid-19 is hurting the risk appetite in global markets. Lira is also weaker with USDTRY pair at 7.7732 vs 7.7412 at yesterday's closing bell, therefore we anticipate a negative open for the BIST. U.S. futures are down 1.7% and Asian equity indices are all trading lower.
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