Turkey Wake up call: Macro, Political and Equity News, 16th June
BIST lost 0.25% yesterday, demonstrating resilience to the sell-off among global peers. After a gap lower start in sync with losses elsewhere, BIST100 clawed its way back to positive territory by 11:30AM. The small gains could not be sustained though and the index closed slightly lower for the day. Banks were again the major culprit with the 1.06% drop in their sector index. TUPRS, EREGL, FROTO, TOASO, AKCNS, and aviation stocks topped the non-bank decliners while BIMAS, ULKER, ENKAI, ALKIM, GLYHO, MPARK, SELEC, and Koza Group names were among the best performers. Today, our macro agenda is muted apart from Treasury's reissues of 6-month Treasury notes and 3-year TLREF-indexed bonds in its double domestic borrowing auctions. Domestic redemption for the week stands at TL1.15bn. BIST is off to a strong start given the 1.6-1.7% overnight rebound in U.S. markets on FED's corporate-bond buying step and on news the Trump administration is considering USD1 trillion in infrastructure spending. Asian markets are all trading visibly in the green and U.S. futures are up c.1.4% in early trades.
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.