Turkey Wake-up call: Macro, Political and Equity News, 3rd March
BIST climbed 0.82% yesterday in the second consecutive day of gains. Banks fell behind with the 0.32% gain for their index as Tuesday's rally in GARAN seemed to have stalled. EREGL, TCELL, KRDMD, TTKOM, BIMAS, MGROS, ISGYO, and DEVA topped the gainers for the day while ASELS, AEFES, TOASO, FROTO, KOZAA, ENKAI, CIMSA, and INDES were among the weaker spots in the BIST100 universe. Today, our key macro agenda item will be the February'22 inflation numbers due at 10AM local time. Bloomberg consensus CPI at +3.75% (yearly 52.50% vs 48.69% a month ago) and PPI at +5.39% (yearly 103.00% vs 93.53% a month ago). BIST is off to a positive start given the supportive sentiment in global markets this morning. U.S. futures are up a few points on top of the 0.4-0.7% overnight gains after we left and Asian markets outside of China are all trading in the green.
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