Turkey Wake-up call: Macro, Political and Equity News, 30th December
BIST climbed 2.43% yesterday as stocks managed to stage a comeback after some selling in the first hour of the session. Banks fell behind the broader market with the 0.73% gain in their sector index as GARAN and VAKBN outperformed peers while AKBNK was a laggard. ENKAI, EREGL, TCELL, KRDMD, TOASO, THYAO, AYGAZ, and KRVGD topped the non-bank gainers for the day while DOAS, ALARK, GUBRF, KOZAL, HEKTS and GLYHO were some of the few weak spots. Today, our local macro agenda is muted apart from the weekly Central Bank data due at 2:30PM local time. We anticipate a slight positive open for the BIST as the slide in lira (USDTRY around the 13.30 mark vs 12.6682 at yesterday's closing bell) may prop up industrial/exporter names while global equity markets present a mixed picture amid quiet trading.
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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