Turkish equities are likely to join the global markets and open in the green today. Daily resistance levels are 2,035 and 2,050. Earnings season continues and AKBNK posted 4Q21 NI of TL4,783mn (+49% q/q and +159% y/y), 13% higher than our and 17% higher than the consensus estimate. Akbank's share price is likely to positively react to 4Q results. Eyes will be on non-farm payroll data from the US today.
*SAHOL TI> bought back 590K shares at an average price of TL15.21 on 1 Feb 2022. Since 09 Nov 2021, the total number of shares bought back reached 19.2mn at an average price of TL14.37
*AKBNK TI> posted 4Q21 NI of TL4,783mn (+49% q/q and +159% y/y), 13% higher than our and 17% higher than consensus estimate.
Feb 2: January PMI ( December 52.1)
Feb 2: Garanti 4Q21 results. Consensus TL3,803mn, ATA estimate TL4,148mn
Feb 3: February CPI ( Consensus 11% m/m, 48.15%)
Feb 3: YKB 4Q21 results. Consensus TL3,327mn, ATA estimate TL3,643mn