Turkey Wake-up call: Macro, Political and Equity News, 16th October
BIST lost 0.74% yesterday as the sour sentiment abroad weighed on Turkish stocks. Index started the day down a few points and its early attempt to go higher got stuck at the 1,192 level before the market turned south and the rest of the day was spent in negative territory. Banks again fell back with the 1.32% drop in their sector index. Grocers, insurers, MAVI, MPARK, BRISA, TTRAK, HEKTS, and EKGYO led the gainers for the day while TUPRS, PETKM, TCELL, AKSA, EGEEN, and energy stocks were among the weaker names. Today, our local macro agenda is muted apart from CBT's monthly expectations survey to be revealed at 2:30PM local time. We predict an uptick open for the BIST given the 0.7-0.8% overnight gains in main American indices after we closed. U.S. futures are up a few points, lira is stable below the 7.94 mark vs the dollar while Asian equity markets are trading mixed.
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.
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