Turkey Wake-up call: Macro, Political and Equity News, 31st August
BIST added 0.67% on Friday, carrying its weekly total gains to 0.94%. After an indecisive open and floating around the no-change line in morning hours, BIST100 index gained some traction in the afternoon and closed at its intraday peak. Banks slightly outperformed with the 0.85% ascent in their sector index. TOASO, ENKAI, EREGL, KRDMD, PETKM, KARSN, ISMEN, and DOAS led the non-bank gainers for the day while PGSUS, TAVHL, BIMAS, AEFES, GUBRF, and HEKTS were among the fewer weak spots. Coming to this morning after the long weekend, we foresee a slight positive open for the BIST as Turkish stocks may catch up with yesterday's gains in global markets. Lira is a tad weaker though, with the USDTRY pair above the 8.36 mark vs 8.3519 at Friday'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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