Turkey Wake-up call: Macro, Political and Equity News, 27th April
BIST jumped 2.14% yesterday as investors seemed to shrug off the tensions with Washington following the White House declaration on Armenian genocide claims. After a small downtick open, BIST100 quickly turned north and ascended to the 1,365 level, around which it spent a good part of the day. Some pullback after 4:30PM was reversed with another wave of buying during the last 45 minutes and the index closed at its daily peak. Banks lagged with the 0.70% gain in their sector index. Strength in key non-financials like EREGL, KCHOL, aviation stocks, MGROS, PETKM, TTRAK, and FROTO led the market higher while VESTL, TUPRS, OTKAR, and ODAS were some of the rare decliners. Coming to this morning, our local macro agenda is quiet and we anticipate a flattish start for the BIST where stock-based moves based on 1Q21 earnings releases may take center stage. U.S. futures are up c.0.3% in early trades while Asian indices present a mixed picture.
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.
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