Turkey Wake-up call: Macro, Political and Equity News, 16th September
BIST retreated 0.73% yesterday as institutional selling in blue-chip names in the afternoon reversed the slight gains from morning hours. Banks underperformed the broader market with the 1.13% loss for their sector index amid pressure on AKBNK and GARAN. TUPRS, KORDS, AKSA, DOAS, VESBE, BRISA, and LOGO topped the non-bank gainers while EREGL, TCELL, FROTO, KOZAA, GUBRF, OTKAR, and PGSUS were some of the day's weakest names. Today, we have a muted local macro agenda apart from the Central Bank's weekly statistics. We foresee a sideways open with a negative bias for BIST given the sour sentiment in Asian markets. S&P futures are trading marginally lower while lira is stable with the USDTRY pair drifting in the 8.43-8.44 range.
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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