Markets





	Global equities failed to hold on gains due to worries on US GDP data on Friday. Selloff in Asian shares was particularly strong after a surprise fall in Japan’s industrial production and an increase in unemployment. Commodities drop on signs the global recovery is losing stream.


	Today there was a sell-off in the local bill and bond market from the morning onwards mainly generated by non-resident funds where the benchmark yields were pushed upwards.


	After the Fed survey showed that there have been slowing signs of economic activity in some regions in US during the summer, most major stock indices reacted to the news by declining moderately when local markets were closed as the report revealed a path to steady recovery will not be a smooth one. It is very likely that investors use the report as an excuse to take some of recent gains in early trading session, so we expect ISE30 index futures to open with a negative gap, and manage to stay over 76.200 level. Participants still wait for upcoming earning results and an initial jobless figure in afternoon whether extend to cash gains or hold existing positions. In absence of local news, the mood in European markets will be crucial to set the tone in local ones.


	FX markets opened steady on Thursday. USD/TRY started the day over 1,51 but during the morning trading hours dropped below this level on rising EUR/USD. After US open USD/TRY closed the day at 1,5098.

	30/07/2010 - 30/07/2010
	Treasury Domestic Borrowing Strategy (Aug-Oct)
	30/07/2010 - 30/07/2010
	Foreign trade data-June 2010 (Market median call: 5,75 bn USD $)
	30/07/2010 - 30/07/2010
	ALBRK 2Q10 results (Is Investment NI estimate: n.a., Consensus: TL 29mn)
	30/07/2010 - 30/07/2010
	USA:GDP QoQ (Annualized)

UPDATE 1-Chevron earnings triple, top Wall St view
* Q2 EPS 2.70 vs Wall St view of $2.44 * Q2 output 2.75 mln boepd, vs 2010 target 2.73 mln NEW YORK, July 30 (Reuters) - Chevron Corp , the second-largest U.S. oil compan...

Iran says uranium enrichment remains its right

UPDATE 1-Syrian, Saudi leaders to tackle tension in Lebanon


	© Copyright 2003 Is Yatirim Menkul Degerler A.S.

	The information on this site is provided by “Is Yatirim Menkul Degerler A.S.” (Is Investment) and it is not to be construed as an offer or solicitation for the purchase or sale of any financial instrument or the provision of an offer to provide investment services. Information, opinions and comments contained in this material are not under the scope of investment advisory services. Please refer to Important Legal Information or further information.

		Selected data supplied by Reuters Limited Click for Restrictions

	Designed and developed by INNOVA IT Solutions Inc.