Turkey Wake-up call: Macro, Political and Equity News, 6th May
BIST added 0.27% yesterday in reversal of the previous day's small decline. Index traded in the 1,409-1,425 range as morning losses were reversed in the afternoon. Banks were a bit weaker compared to the broader market and lost 0.10% on average. FROTO, MGROS, CCOLA, AEFES, KOZAL, CIMSA, and KORDS topped the non-bank gainers while EREGL, PETKM, TKFEN, MPARK, PGSUS, and ODAS were some of the weaker spots. Today, the monthly Monetary Policy Council meeting with the decision on policy rates due 2PM local time will be our key macro highlight. All of the participants in the Bloomberg survey expect the MPC to keep its benchmark weekly repo rate unchanged 19.00% in this month's meeting given recent signals from Governor Kavcioglu. We anticipate flattish open for the BIST this morning in absence of visible triggers in either direction. U.S. futures are up a few points in early trades, Asian stocks are trading mixed, and lira is flattish with the USDTRY pair stuck in the 8.32-8.33 range.
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.