Turkey Wake-up call: Macro, Political and Equity News, 28th July
BIST climbed 0.77% yesterday thanks to the reversal of morning losses in an afternoon rebound. Banks gained 0.43% on average, underperforming the broader market for the sixth day in a row. EREGL, PETKM, SAHOL, ENKAI, TOASO, KARSN, AKSEN, and aviation stocks led the gainers for the day while SOKM, DOAS, MPARK, TRGYO, TKNSA, and KRVGD were some of the fewer weak spots. Today, our only macro agenda highlight will be the summary minutes of the latest Monetary Policy Council meeting to be released at 2PM local time. We foresee a downtick start for the BIST given the sour sentiment abroad while lira is almost unchanged with the USDTRY pair cruising just above the 8.56 mark. U.S. futures are down a few points in early trades and Asian markets are almost all trading in the red.
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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