Turkey Wake up call: Macro, Political and Equity News, 16th July
BIST slipped 0.56% on Tuesday before yesterday's national holiday. After a wobbly start, BIST100 index traded around the no-change mark until around 3PM when the selling pressure intensified. Banks again underperformed with the 1.24% loss in their sector index. REITs led by EKGYO, SAHOL, ULKER, VESTL, TATGD, AKGRT, TTRAK, and ANACM topped the non-bank gainers for the day while PETKM, TUPRS, TKFEN, AYGAZ, KRDMD, ODAS, and IPEKE were among the weak spots. Today, our local macro agenda showcases June'20 central government budget numbers due at 11AM local time. We foresee a positive open for the BIST as Turkish stocks play catch up with the rally in global peers yesterday on increasing vaccine hopes although the move is partially reversed in today's action on resurfacing growth worries. Lira is a bit stronger vs the greenback with USDTRY at 6.8575 vs 6.8663 at Tuesday's closing bell. U.S. futures are down 0.5% in early trades, but we note the c.2.4% gains between the time we left on Tuesday and yesterday's close. Asian markets are all 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.
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.