Turkey Wake-up call: Macro, Political and Equity News, 8th October
BIST jumped 1.84% yesterday as foreign institutional investors seemed to have returned to the scene as buyers amid the positive mood in international markets. After a slightly higher open that marked the lowest point of the day, BIST100 index continued its ascent almost uninterruptedly until the close. Banks fell a bit behind with the 1.47% gain for their sector index. EREGL, KRDMD, ASELS, TUPRS, KOZAL, THYAO, and AKSA topped the non-bank gainers while TTKOM, AKSEN, MAVI, TRILC, and BIOEN were some of the handful decliners. Coming to this morning, our local macro agenda is muted and eyes will be on global peers for a sense of direction. We duly anticipate an uptick start for the BIST as Asian markets are mostly trading in the green while U.S. and European futures seem to be steady in early trades. Lira is somewhat weaker though as the USDTRY pair is testing the 8.90 level vs 8.8749 at yesterday's closing bell.
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