Turkey Wake-up call: Macro, Political and Equity News, 14th July
BIST dropped 1.06% yesterday as the sell-off in global equity markets weighed on Turkish stocks alike, especially following the US CPI data after 3:30PM. EGEEN, GESAN, ODAS, ECILC AND TKFEN were some of the rare gainers in the BIST100 universe while ARCLK, FROTO, TUPRS, TOASO and KRDMD topped the decliners. Today, our local macro agenda involves May'22 Industrial Production numbers due at 10AM local time. Bloomberg survey consensus +8.0% yoy based on the estimates for calendar-adjusted series. We foresee a sideways open for the BIST on a relative calm in global stock markets. Lira is a tad weaker with the USDTRY pair around the 17.458 mark vs 17.4293 at yesterday's closing bell.
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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