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Turkey: We expect a flat opening

  • This week the major news for the markets will be the US inflation figure on Thursday
  • Fast vaccination and hope of normalisation continue to bring buying to aviation companies.
  • Please recall TAVHL is our top pick from aviation sector.

Despite a volatile week, BIST 100 was able to close above 1,430 resistance on Friday. This week the major news for the markets will be the US inflation figure on Thursday.

Fast vaccination and hope of normalisation continue to bring buying to aviation companies. Please recall TAVHL is our top pick from the aviation sector.

TL is resilient in the morning and we expect a flat opening in the market today. In case 1,430 resistance will be broken today 1,440 resistance will be followed.

Macro news:

Real Effective Exchange Rate (REER) declined by 2.8% m/m to 60.55 in May’21 (Apr’21: 62.29). FX basket which is calculated as an average of Euro and US$ appreciated by 3.4% m/m in May’21 (Apr’21: 6.5%).

Company news:

DOHOL: bought back 350k shares at TL 2.93

ENKAI: CEO Kara bought 283k ENKAI shares within TL 8.64-8.67 band

Weekly Agenda:

June 10: April Foreign Trade Indices

June 10: April Unemployment Rate

June 11: April Industrial Production Index

June 11: June CBT Survey of Expectations


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