Turkey Wake-up call: Macro, Political and Equity News, 24th June
BIST lost 1.21% yesterday, with selling pressure accelerating in the afternoon due to the concerns about regulation changes to be announced. Banks were weaker with 2.36% fall in their sector index, amid more pressure on AKBNK and two state lenders. ENKAI, TKFEN, AKSEN, AYDEM, BERA, DOAS, ALARK, and ISGYO led the non-bank gainers while FROTO, EREGL, THYAO, SISE, ISDMR, ASELS, ARCLK and KCHOL stood out among the decliners in the BIST100 universe. Coming to this morning, our local macro agenda involves June'22 Manufacturing Capacity Utilization Rate (CUR stood at 78.0% in May'22 and was 76.6% back in June'21) and Real Sector Confidence Index (was at 109.4 in May'22 and had stood at 113.0 back in June'21) both to be released at 10AM local time. We expect a positive start for the BIST given the supportive mood in global markets. S&P futures are up around 0.5% in early trades, while Asian bourses trades in the green this morning.
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