Morning Note /
Turkey

Turkey: NATO's extraordinary summit

  • Turkey’s foreign relations with the west keep improving

  • Erdogan also called NATO allies to end arms embargoes with Turkey

  • Today we are expecting a slightly positive opening in the market

Batuhan Ozsahin
ATA Invest
25 March 2022
Published by

The Extraordinary Summit of NATO held yesterday where President Erdogan met with bloc leaders and sent unity messages. Turkey’s foreign relations with the west keep improving. Erdogan also called NATO allies to end arms embargoes with Turkey. Today we are expecting a slightly positive opening in the market. Unless 2,165 support will be broken the buying in the market should continue towards 2,200 resistance. Food retailers may be under pressure due to the news in Sabah daily that another investigation was initiated against food retailers by Competition Board and the board is expected to finalize its reports by April,26. HRC prices keep rising everyday gradually which helps EREGL and KRDMD recovery.

Company news:

*ARCLK TI> bought back 323K shares at an average price of TL57.46 on 24 March 2022. Since 02 July 2021, the total number of shares bought back reached 56.2mn at an average price of TL40.17.

*SAHOL TI> bought back 640K shares at an average price of TL17.32 on 24 Mar 2022. Since 09 Nov 2021, the total number of shares bought back reached 34.3mn at an average price of TL14.94.

Weekly Agenda:

Mar 25: March Capacity Utilization rate