Turkey Wake-up call: Macro, Political and Equity News, 23nd June, Global Securities
BIST added 0.81% yesterday thanks to the afternoon rebound which was also underpinned by the recovery in lira. Banks spearheaded the move with the 1.76% jump in their sector index with the two state lenders outperforming. TOASO, DOAS, DEVA, CCOLA, VESTL, TRGYO, and IPEKE topped the non-bank gainers while MAVI, MPARK, BIMAS, KRVGD, and NTHOL were some of the rare decliners. Today, we have a muted local macro agenda and eyes will be on lira as well as global equities for a sense of direction. Given continued strength in peer markets and stability in lira (USDTRY at 8.66-8.67 range in early trades vs 8.6731 at yesterday's closing bell), we anticipate a slight positive open for the BIST. U.S. futures are up 0.2% and Asian equity benchmarks are mostly trading in the green.
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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