Turkey Wake-up call: Macro, Political and Equity News, 15th October
BIST slipped 0.13% after riding some ups and downs yesterday in the third consecutive day of small-scale index changes. Banks fared in line with the broader market with an average loss of 0.16% while VAKBN was the sole exception as it apparently got a boost from its sizable buyback purchases. TUPRS, DOHOL, ASELS, ENJSA, LOGO, TURSG, and PGSUS topped the non-bank gainers while FROTO, BIMAS, CCOLA, OTKAR, TTRAK, MPARK, and ODAS were some of the weak spots. Coming to this morning, our local macro agenda involves CBT's monthly expectations survey to be revealed at 10AM and September'21 central government budget numbers due at 11AM local time. We foresee a slight positive open for the BIST given the upbeat sentiment in global equities while continued pressure on lira (USDTRY above the 9.20 mark vs 9.1856 at yesterday's closing bell) may create some headwinds. S&P futures are up almost 0.4% in early trades and Asian stock indices are almost all trading in the green
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