Turkey Wake-up call: Macro, Political and Equity News, 17th March
BIST added 0.45% yesterday after a day totally spent in positive territory although Turkish stocks fell behind international peers that were broadly in rally mood. Banks lagged with the 0.14% gain for their sector index as the two state lenders came under mild selling pressure due to their MSCI index exclusion. FROTO, KCHOL, MAVI, OYAKC, INDES, EKGYO, and DOAS led the gainers in the BIST100 space while ASELS, ALARK, TOASO, KORDS, ENJSA, and TRGYO stood out among the weak spots. Today, our key macro agenda item will be the monthly Monetary Policy Council meeting with the decision on policy rates due 2PM local time. Participants in the Bloomberg survey unanimously expect the MPC to keep its benchmark weekly repo rate unchanged at 14.00% for the third consecutive month after cumulative cuts of 500bps in the previous four months. We anticipate an uptick start for the BIST given continued appetite for risk assets in global markets. U.S. futures are down a few points this morning in partial reversal of the 0.2-0.4% overnight gains after we left while the gains in Asian bourses are more visible and across-the-board.
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.