Daily Comment
03/02/2012

Good morning! Could there perhaps be a correlation between snowy weather in Istanbul and buying sentiment on the ISE100? The index extended its upward trend into February closing up 1.41% (836 pts) yesterday to break the 60k barrier at 60,052 with a hefty volume of TRY 2.8bn. The index traded between 58,553–60,089. The TRY depreciated slightly against the USD to 1.7584 and benchmark bonds also edged slightly lower to 9.37%. Today, investors will be locally monitoring the CPI figures to be announced at 10:00 (08:00 GMT), as well as non-farm payroll employment figures from the US. Today we expect a flat to negative opening with resistance levels at 60,000 and 60,500 and support levels at 59,300 and 58,600.