Turkey Wake-up call: Macro, Political and Equity News, 9th April
BIST slipped 0.09% yesterday as late-afternoon selling erased earlier gains. BIST100 index opened higher and climbed to 1,430 daily peak in the first hour of activity. After spending a good part of the day above the 1,422 mark, the benchmark turned south in the last 1.5 hours and ended the day with a small loss. Banks underperformed with an average 1.08% drop as the two state lenders lagged peers. Grocery chains, EREGL, MPARK, VESTL, AEFES, DOHOL, YATAS, and ENJSA were among the gainers while aviation stocks, EKGYO, KOZAL, ODAS, AKSEN, and FROTO topped the longer list of decliners. CBT's monthly expectations survey to be revealed at 10AM local time is our only local macro headline for today. BIST seems headed for a flattish start with a positive bias given mixed signals from peer markets while lira is also trading barely changed with the USDTRY pair around the 8.15 mark. U.S. futures are up c.0.2% while Asian equity indices are moving in different directions.
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