Turkey Wake-up call: Macro, Political and Equity News, 18th May
BIST climbed 0.90% yesterday as the better risk appetite in global markets propped up Turkish stocks. BIST100 index spent the entire day in positive territory and closed near its intraday peak. Banks outperformed with the 2.29% gain in their sector index as bellwether GARAN caught some bids. TCELL, TUPRS, EKGYO, ULKER, TKFEN, GUBRF, AKSA, and Koza Group names topped the long list of gainers while steelmakers, TOASO, FROTO, TAVHL, CCOLA, DEVA, and TTRAK were some of the fewer decliners. Today, our local agenda only involves Treasury offering 1-year gold bonds and 1-year gold-indexed sukuk papers via direct sales in the domestic market. Domestic redemption for the week stands at TL13.17bn. BIST seems headed for an uptick start given continued optimism abroad and stability in lira (USDTRY around the 8.32 mark, holding onto yesterday's gains). S&P futures are up c.0.35% in early trades and Asian equities are mostly trading in the green with Japan and Taiwan leading the pack. To remind, BIST will be closed tomorrow (19-May) in observance of a national holiday and accordingly, today’s trades in the BIST will settle on Friday, 21-May.
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.