Turkey Wake-up call: Macro, Political and Equity News, 24th June
European bourses. Banks dropped 0.64% on average, in line with the headline index. KOZAA, TKFEN, AEFES, VESTL, YATAS, ODAS, and HEKTS led the non-bank gainers for the day while BIMAS, EKGYO, DOAS, KRDMD, TAVHL, PGSUS, and CIMSA were some of the weak spots. Today, our local macro agenda involves June'21 Manufacturing Capacity Utilization Rate (CUR stood at 75.3% in May'21 and was 66.0% back in June'20) and Real Sector Confidence index (was at 110.3 in May'21 and had stood at 92.6 back in June'20) both to be released at 10AM local time. Separately, summary minutes of the latest Monetary Policy Council meeting will be released at 2PM. We anticipate a sideways start for the BIST given mixed signals from peers this morning. U.S. futures are up 0.2% while Asian indices are moving in different directions with rather small daily changes. Lira is a tad weaker with the USDTRY pair around 8.6550 mark vs 8.6481 at yesterday's closing bell.
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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