Turkey Wake-up call: Macro, Political and Equity News, 12th August
BIST added 1.37% yesterday as foreign institutional investors seemed to be better buyers in a bunch of blue-chip names amid ongoing optimism in global markets. Banks outperformed again with the 3.49% jump in their sector index with GARAN and second-tier names spearheading the move. BIMAS, DOHOL, SAHOL, TUPRS, DOAS, GWIND, SOKM, and ISMEN topped the non-bank gainers in the BIST100 space while Koza Group names, AEFES, HEKTS, AKSEN, KORDS, and CEMTS stood out among the fewer decliners. Coming to this morning, our local macro agenda involves June'22 Industrial Production numbers due at 10AM local time. Bloomberg consensus +6.7% YoY based on the estimates for calendar-adjusted series and no-change MoM based on the seasonally & calendar-adjusted series. Separately, CBT's monthly expectations survey of market participants will also be revealed at 10AM. We foresee a flattish open for the BIST given conflicting signals from abroad. U.S. futures are up c.0.2% in early trades as they reverse part of the 0.5-0.8% overnight losses after we left while Asian markets present a mixed bag.
The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.
The Institutional Equity Research team consists of roughly 15 analysts, both in Vienna and the CEE countries. Our analysts provide long-standing sector expertise in tandem with profound local market know how and a sectoral approach across the entire region.
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