Turkey Wake-up call: Macro, Political and Equity News, 15th September
BIST ended 0.27% lower yesterday amid afternoon volatility triggered by the U.S. inflation data. Banks managed to add 0.64% on average as the bellwether GARAN caught some institutional bids. TUPRS, DOAS, TOASO, TTKOM, VESBE, and ALARK led the fewer gainers among non-banks while EREGL, KRDMD, TCELL, TURSG, and TRGYO were some of the decliners. Today, our local macro agenda includes August'21 central government budget numbers due at 11AM local time. We predict a downtick start for the BIST as the global markets are again pricing in concerns about a slower economic recovery. U.S. futures are up marginally but we note the 0.2-0.3% overnight declines in main indices after we left, while Asian markets mostly trading in the red.
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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