Turkey Wake-up call: Macro, Political and Equity News, 17th May
BIST ended 0.25% lower on lackluster half-day trading before the Eid break on Wednesday and remained virtually unchanged during the holiday-shortened week. Banks lost 0.19% for the day with YKBNK slightly underperforming following the MSCI exclusion decision. PGSUS, TUPRS, AKSEN, VERUS, MAVI, and AKSA led the non-bank gainers while PETKM, SAHOL, TKNSA, OTKAR, KRDMD, and ALARK were some of the weaker spots. Coming to the start of the new week, our local macro agenda involves April'21 central government budget numbers due at 11AM local time. BIST seems headed for a directionless start amid mixed signals from global equity markets during our holiday while the slide in lira (USDTRY around the 8.43 levels vs 8.3482 at Wednesday's closing bell) may create some headwinds. U.S. futures are down a few points in early trades while Asian equity indices are trading 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.
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