Turkey Wake-up call: Macro, Political and Equity News, 6th October
BIST edged down by 0.20% yesterday after a volatile day as the strength in U.S. markets failed to provide a jolt to Turkish stocks in the afternoon. Banks fared better with an average 0.29% gain as GARAN caught some bids. TUPRS, MAVI, TKNSA, INDES, AYGAZ, TRGYO, and PGSUS led the non-bank gainers while automotive stocks, LOGO, BRISA, ISMDR, SOKM, and VESTL were among the weakest names in the BIST100 universe. Today, our local macro agenda is muted. We predict a downtick open for the BIST as the mood abroad has swung back to pessimism with losses in S&P futures and the majority of Asian markets. Lira is stable with the USDTRY pair drifting within the 8.88-8.89 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.
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