Report

Turkey Wake-up call: Macro, Political and Equity News, 23rd August

BIST increased 0.33% on Friday thanks to the rebound after 3PM, along with the rebound in global peers, and trimmed its weekly decline to 0.21%. Banks gained 0.45% on average, marginally above the broader market. TCELL, KCHOL, KOZAA, AKSA, DOAS, INDES, SELEC, and HEKTS topped the non-bank gainers while TUPRS, DOHOL, ALARK, GLYHO, ALKIM, and OTKAR were some of the weak spots. Coming to the start of the new week, our local macro agenda showcases August'21 Consumer Confidence Index compiled by TurkStat due at 10AM local time. In the revised series, the index had declined 2.7% on a sequential basis to 79.5 in July. Separately, Ministry of Tourism will disclose the tourist arrival numbers for July'21 at 11AM. Foreign tourist arrivals had jumped 853.4% yoy to 2.048mn in June as the pandemic-related base effects were in play, bringing the cumulative yearly arrivals to 5.73mn visitors, up 27.1% from the corresponding period of 2020. We predict a slight positive open for the BIST given the upbeat sentiment abroad and lira holding onto Friday's gains (USDTRY below the 8.50 mark vs 8.5053 at Friday's closing bell. U.S. futures are up almost 0.4% in early trades on top of c.0.3% overnight gains after the time we closed and Asian bourses are all trading in the green.
Provider
Raiffeisen Bank International AG - Institutional Equity
Raiffeisen Bank International AG - Institutional Equity

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.

Other Reports from Raiffeisen Bank International AG - Institutional Equity

ResearchPool Subscriptions

Get the most out of your insights

Get in touch