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Turkey: We expect positive openings

  • The risk appetite in the market seems to be better than last week
  • CBT deputy governor Oguzbas Ozbas was replaced with Semih Tumen late yesterday night
  • Following the CMB approval of the IPO of ATP (ATA Group company) ATPTP TI book building will start on 27 May

Thanks to the resilience in US 10-year bonds it is more likely for BIST 100 to stay above 1,440 support level in the short term. Although there is no Turkey-specific story, the latest deal with Biontech for 120mn doses of vaccine will speed up the opening process in Turkey by June-July.

The risk appetite in the market seems to be better than last week. Eyes are on Iran-US relations and any positive steps will be positive for TUPRAS. Daily support and resistance levels are 1,440-1,430 and 1,460-1,480 respectively.

Macro news:

CBT deputy governor Oguzbas Ozbas is replaced with Semih Tumen late yesterday night.

Company news:

ATPTP: Following the CMB approval of the IPO of ATP (ATA Group software company) ATPTP TI book building will start on May, 27 Thursday

ULKER: goes ex-dividend today, paying TL0.81/shr (3.55% div. yield)

BIMAS: Merkez Bereket Gıda bought 312.270 BIMAS shares @62.13 it's stake raised to %14.9384

Weekly Agenda:

May 25: May capacity utilization (April 75.9%)

May 25: May real sector confidence (April 107.4)

May 28: April trade balance (March -USD 4.65bn)


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