Turkey Wake-up call: Macro, Political and Equity News, 22nd April
BIST added another 1.22% in its sixth consecutive day of gains as Turkish stocks quickly gained traction after an indecisive open. Banks slightly outperformed with the 1.59% gain in their sector index amid particular strength in the two state lenders and GARAN. REITs, ARCLK, THYAO, PGSUS, BIMAS, EREGL, ENKAI, ASELS, and NTHOL topped the non-bank gainers for the day while CCOLA, ENJSA, ODAS, DOAS, KCHOL, and Koza Group stocks stood out among the fewer decliners. Today, we have a muted local macro and political agenda while we anticipate a negative start for the BIST given the sour sentiment in global markets following hawkish statements from the FED Chair Powell last night. U.S. futures are down a few points in early trades but we note the 1.6-2.1% overnight losses in the main indices after we left. Asian markets are almost all trading in the red.
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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