Turkey Wake-up call: Macro, Political and Equity News, 27th November
BIST added another 1.28% to a new record close yesterday amid the supportive mood abroad combined with the rebound in lira. Banks led by GARAN and VAKBN outperformed the broader market with the 2.27% gain in their sector index. KCHOL, airlines, fertilizer producers, SELEC, and LOGO topped the non-bank gainers while TOASO, SOKM, BIZIM, CLEBI, ALARK, and AEFES were among the fewer decliners. Today, our local macro agenda involves TurkStat's November20 Economic Confidence Index due at 10AM local time. The index had climbed 4.9% on a sequential basis to a 7-month high of 92.8 in October in the sixth consecutive month of recovery after touching its all-time low of 51.3 in April during the peak of the virus pandemic concerns. We anticipate flattish open for the BIST given mixed signals from international peers and a stable lira (USDTRY at 7.8850 levels, in line with that 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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