Turkey Wake-up call: Macro, Political and Equity News, 15th December
BIST continued its rally with its 2.68% jump yesterday as the weakness in lira and low deposit rates kept local investors seeking for higher returns in the stock market. Benchmark BIST100 faced resistance at the 2,155 level during the day, but managed to hop above it just before the close. Banks gained 4.13% on average, playing some catch up with the recent surge in industrial blue-chips. EREGL, TCELL, FROTO, TKFEN, SELEC, EKGYO, DOHOL, KORDS, and AYGAZ topped the non-bank gainers while TAVHL, PGSUS, MAVI, DOAS, CIMSA, LOGO, and ARDYZ were among the fewer decliners in the BIST100 space. Today, our local macro agenda showcases November'21 central government budget numbers due at 11AM local time. BIST seems headed for another positive start as lira is losing further ground in early trades (USDTRY above the 14.48 level vs 14.3913 at yesterday's closing bell) and despite the downbeat sentiment abroad ahead of today's FED decisions.
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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