Turkey Wake up call: Macro, Political and Equity News, 17th July
BIST ascended 0.91% yesterday as Turkish stocks played some catch up with the gains enjoyed by the global peers during Wednesday's national holiday. Index had a gap higher open around the 118.7k mark and traded in a tight 800-point range for the rest of the day, only to close at about where it started. Banks gained 1.35% on average with HALKB and VAKBN leading the group. FROTO, ASELS, ENKAI, GLYHO, YATAS, TRGYO, TTRAK, and KOZAA topped the non-bank gainers while EKGYO, SAHOL, OYAKC, MPARK, and Sisecam Group names stood out among weak spots. Coming to this morning, our local macro agenda is quiet. We foresee a sideways open with a positive bias for the BIST given mixed signals from peer markets. U.S. futures are up 0.2% in early trades while Asian equity indices are moving in different directions.
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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