Turkey Wake-up call: Macro, Political and Equity News, 4th January
BIST climbed 3.71% yesterday in an upbeat start to the year as the higher-than-expected December inflation print seemed to lure buyers to industrial blue-chips. Banks underperformed with the 2.04% increase in their sector index. TOASO, THYAO, TUPRS, BIMAS, KCHOL, KORDS, VESTL, FROTO, and AKSA topped the long list of gainers in the BIST100 universe while VERUS, ISGYO, KRVGD, and MAVI were among the handful of decliners. Today, our local macro agenda involves Central Bank's December'21 real effective FX rate due at 2:30PM local time. The CPI-based index is expected to stage some recovery from its all-time-low of 54.33 for previous month given ~1.0% appreciation of lira vs the currency basket during the month along with the 13.58% headline CPI print for December. We foresee a slight positive open for the BIST given the strength in majority of Asian stock markets and the 0.5-0.7% overnight gains in the U.S. indices after the hour we left. Lira is a tad weaker as the USDTRY pair is around the 13.30 mark in early trades vs 13.1068 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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.