Turkey Wake-up call: Macro, Political and Equity News, 9th June
BIST inched up 0.04% yesterday after some ups and downs, especially in the afternoon part of the session. Banks gained 0.17% on average with the private lenders slightly outperforming the two state-controlled rivals. Aviation stocks, ODAS, SELEC, CIMSA, and GOZDE were some of the stronger names while TTKOM, SAHOL, KOZAA, DEVA, YATAS, OTKAR, and KARSN topped the decliners for the day. Today, our local macro agenda is muted and on the political front, investors will keep an eye on President Erdogan's address to his party group meeting in the Parliament starting at 12PM local time. We foresee a sideways open for the BIST as things seem to be quiet on all fronts in international markets. U.S. futures are flat and Asian equity markets are mixed with small daily changes. Lira is a tad weaker with the USDTRY pair at 8.6075 vs 8.5976 at yesterday's closing bell.
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