Turkey Wake-up call: Macro, Political and Equity News, 25th May
BIST lost 0.25% yesterday as the index turned south in the last hour of the session after spending most of the day in positive territory. Banking index was down 0.68% amid pressure on AKBNK and ISCTR while the two state lenders closed higher. SISE, HEKTS, KORDS, OYAKC, GSDHO, SELEC, and Koza Group stocks topped the non-bank gainers while BIMAS, ARCLK, ASELS, TCELL, TUPRS, GLYHO, and airlines were among the weakest spots. Coming to this morning, our local macro and political agenda are muted. We foresee a positive open for the BIST on the back of the upbeat sentiment in global markets. S&P futures are up 0.5% in early trades on top of c.1.4% overnight gains after the hour we left and Asian bourses are almost all trading in the green. Lira remains weak with the USDTRY parity cruising around the 16.16 mark vs 16.0734 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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