Turkey Wake-up call: Macro, Political and Equity News, 23rd February
BIST slipped 1.01% yesterday after a day entirely spent in the negative territory as the risk-off mood in global markets on rising Ukraine-Russia tensions weighed on Turkish stocks alike. Banks lost 0.84% on average as ISCTR and AKBNK held up relatively better. TCELL, TTKOM, AKSA, KORDS, KARSN, ISMEN, CCOLA, and AKSEN were some of handful of gainers in the BIST100 universe while TUPRS, TAVHL, OTKAR, TOASO, ALARK, SOKM, MGROS, EKGYO, ENKAI, and DOAS topped the crowded set of decliners. Coming to this morning, our local macro and political agenda are muted and all eyes will be on news related to Ukraine. We anticipate a slight positive open for the BIST as global risk assets seem to be licking their wounds after their recent sell-off triggered by the NATO-Russia standoff. U.S. futures are up 0.6% in early trades and Asian equity benchmarks are almost all 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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