Turkey Wake-up call: Macro, Political and Equity News, 3rd September
BIST added 0.34% yesterday in its fourth consecutive day of gains. Benchmark BIST100 index spent the entire day in positive territory except for a wobble at the open, but trimmed some of its daily gains in the last 1.5 hours after touching 1,485 in the afternoon. Banks slightly outperformed with the 0.48% increase in their sector index. TUPRS, EKGYO, TTKOM, ECILC, DOHOL, and LOGO topped the non-bank gainers while DOAS, ENKAI, OTKAR, AKSA, and VESBE were some of the fewer decliners for the day. Coming to this morning, our key macro agenda item will be the August'21 inflation numbers due at 10AM local time. Bloomberg consensus CPI at +0.70%. We foresee an uptick open for the BIST given continued momentum in global equities. S&P futures are up 0.2% in early trades and Asian bourses outside of China are all trading in the green. Lira is holding onto its recent gains with the USDTRY pair around the 8.29 mark.
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