Turkey Wake-up call: Macro, Political and Equity News, 3rd March
BIST ended up 0.09% higher after a day of zig-zagging around the no-change line yesterday. Banks fell behind with the 0.65% loss for their sector index. Aviation names led by THYAO, TOASO, TKFEN, KORDS, PETKM, EKGYO, GOZDE, and AEFES were among the strong spots while Koza Group stocks, DOHOL, OTKAR, TTRAK, CIMSA, and SASA topped the longer list of decliners. Today, our key macro highlight will be the February'21 inflation numbers due at 10AM local time. Bloomberg consensus for both CPI and PPI at +0.70%. We foresee an uptick open for the BIST as the bulls seemed to have returned to the scene in global equity markets. U.S. futures are up c.0.4% in early trades but we note the 0.6-0.7% overnight losses in main indices after the hour we left. Asian stock markets are all trading in the green.
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