Turkey Wake-up call: Macro, Political and Equity News, 17th June
BIST lost 1.81% yesterday as Turkish stocks yielded to selling pressure in global markets as the benchmark BIST100 index fell below the 2,500 support in afternoon trading. Banks were slightly weaker with the 2.08% drop in their sector index amid pressure on HALKB and GARAN. DOAS, AGHOL, ODAS, AKSEN, AYDEM, TKFEN, ad MGROS stood out among the rare gainers in the BIST100 universe while SISE, KCHOL, Koza Group names, FROTO, DOHOL, ENKAI, CIMSA, and SELEC topped the decliners. Today, our local macro agenda showcases CBT's monthly expectations survey of market participants to be revealed at 10AM local time. We anticipate an uptick start for the BIST given the recovery attempt in U.S. futures after yesterday's sell-off. S&P futures are up 0.8% in early trades while Asian bourses outside of China are mostly trading in the red as they factor in yesterday's slide in American and European peers.
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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