Turkey Wake-up call: Macro, Political and Equity News, 31st December, Global Securities
BIST added another 1.39% yesterday after a day totally spent in the positive territory. Banks led the charge this time with the 2.79% gain in their sector index amid institutional buyers in heavyweights AKBNK and GARAN. Aviation stocks, GUBRF, HEKTS, CCOLA, TATGD, OTKAR, and GOZDE topped the non-bank gainers while TUPRS, DOAS, LOGO, MPARK, FROTO, and EKGYO were among the weak spots. Coming to the last day of 2020, our local macro agenda involves November'20 Foreign Trade numbers due 10AM local time. Bloomberg consensus for monthly deficit at USD5.10bn vs preliminary data released earlier by the Ministry of Customs & Trade that are indicating a USD5.07bn (+155.4% yoy) trade gap for the month (Exports USD16.09bn (-1.0% yoy) // Imports USD21.16bn (+16.1% yoy)). Separately, summary minutes of the latest Monetary Policy Council meeting will be released at 2PM. BIST seems headed for a slight positive open given increased appetite for emerging markets while lira is flattish around the 7.37 mark vs the USD. Asian markets are mostly trading in the green.
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