Turkey Wake-up call: Macro, Political and Equity News, 14th January
BIST climbed 0.63% yesterday after a day mostly spent in the positive territory except for a short-lived incursion below the no-change line around 3:30PM. With the 0.12% increase in their sector index, banks again trailed behind the broader market as gains in GARAN were balanced out by losses in AKBNK and ISCTR. THYAO, SISE, VESTL, TTRAK, OTKAR, KORDS, GOZDE, and DOAS led the non-bank gainers while Koza Group names, PETKM, SELEC, TOASO, and BRISA were among the weaker names. Coming to this morning, our local macro agenda involves TurkStat's residential sales data for December20 due at 10AM local time. Home sales had dropped 18.7% yoy to 112k units in November as the summer frenzy on favorable mortgage rates continued to fade away amid rising interest rates that led to a 44.3% yoy decline in mortgage-backed transactions. We predict an uptick start for the BIST given the similar outlook for European and U.S. futures while Asian equities are trading mixed.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.