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Turkish Equities Firm Alongside Major Global Benchmarks

TURKEY
Turkish equities firmed Friday, following the trend in major global benchmarks following the US NFP data. The Borsa Istanbul index ended the session 0.55% in the green, closing just shy of the 7750 level which local newspaper Ekonomi cited “experts” as mentioning as a key resistance level. The index sits flat on the week overall, recovering from multi-week lows printed on Wednesday. The banking index gained 0.85%.
  • Despite broad greenback weakness, USDTRY maintained its upward trajectory, standing 0.2% firmer at typing and set to mark its 11th consecutive session of gains. Meanwhile, Turkey’s 5-year CDS slipped to 366 points, its lowest level in over 2 years.
  • Looking ahead, the local data slate is thin next week, with industrial production figures the highlight.

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