Turkey Wake-up call: Macro, Political and Equity News, 23th August
BIST 100 climbed 1.4% in the first day of the week despite the weakness in global bourses and the banking regulations announced in the weekend. Banks were stronger with the 3.55% gain in their sector index. TCELL, BIMAS, SAHOL, HEKTS, ARCLK, TTKOM and OYAKC topped the non-bank gainers in the BIST100 universe while ENKAI, SISE, THYAO, EREGL, TUPRS, FROTO and DOAS stood out among the non-bank decliners for the day. Today, our local macro agenda involves August'22 Consumer Confidence Index compiled by TurkStat due at 10AM local time. The index had climbed 7.4% m/m to 68.0 in July. We anticipate a flattish open for the BIST given the negative mood in international markets. U.S. futures are down c.0.1-0.2% in early trades and Asian bourses are 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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