Morning Note /
Turkey

Turkey: We expect a slightly positive opening today

  • Risk off mode continues in global markets due to further rate hike expectations and rising oil prices

  • Negative newsflow in big global investment banking companies also brings cautious mood to the markets

  • Eyes will be on Sep inflation numbers which will be out at 10:00 AM local time

ATA Invest
3 October 2022
Published byATA Invest

Risk off mode continues in global markets due to further rate hike expectations and rising oil prices. Negative newsflow in big global investment banking companies also brings cautious mood to the markets. Turkish equities are likely to start slightly positive today and eyes will be on Sep inflation numbers which will be out at 10:00 AM local time. The main support of BIST 100 lies at 3,150 which will be followed by 3,130. 3,210 resistance should be broken up for further recovery in the market.

Macro news:

S&P cuts Turkey’s rating to five notches below investment grade

Company news:

Borsa Istanbul will apply uptick rule in BIST 50 short sales today again.

 * MPARK TI> bought back 11K shares at an average price of TL48.11 on 30 September 2022. Since 25 May 2022, the total number of shares bought back reached 3.9mn at an average price of TL38.97.

Weekly Agenda:

Oct, 3: Sep inflation (CPI ATA exp: 3,3% cons: 3,15% )

Oct, 3: Sep Markit Manufacturing PMI

Oct, 4: Sep REER

Oct, 6: BRSA Weekly banking sector data