Turkey Wake-up call: Macro, Political and Equity News, 27th December
BIST jumped 4.76% on Friday in a rebound led by key industrial names, but only managed to trim its weekly losses to 9.27%. Index gained further traction in the afternoon after a slight positive morning session and closed at its daily peak. Banks fell behind with the 0.05% loss in their sector index as YKBNK and GARAN underperformed peers. TUPRS, EREGL, THYAO, TOASO, ASELS, SISE, ARCLK, HEKTS, SOKM, and TTRAK topped the long list of gainers while SELEC, MPARK, AKCNS, and ALARK were among the rare decliners in the BIST100 universe. Today, our local macro agenda involves December'21 Manufacturing Capacity Utilization Rate (CUR stood at 78.1% in November'21 and was 75.6% back in December'20) and Real Sector Confidence Index (was at a 10-month low of 108.4 in November'21 and had stood at 106.8 back in December'20) both to be released at 10AM local time. We anticipate a flat open for the BIST given the slight overnight gains in lira (USDTRY around the 11.50 mark in early trades vs 11.6680 at Friday's closing bell) and slight losses in most Asian markets.
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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