Turkey Wake-up call: Macro, Political and Equity News, 9th February
BIST closed 0.51% higher yesterday after a day of ups and downs within the 1,519-1.542 range. Banks performed in line with the broader market and rose 0.41% on average with GARAN and AKBNK outshining their peers. EKGYO, AKCNS, KOZAL, TTRAK, VESTL, GOZDE, AKSEN, ODAS, and ALARK topped the non-bank gainers while DOHOL, MGROS, SOKM, SELEC, TOASO, and HEKTS were among the day's laggards. Today, our local macro agenda is mostly muted except for the Treasury offering 2-year fixed-rent sukuk papers in a direct sale today while the weekly domestic debt redemptions add up to TL6.19bn. We predict an uptick open for the BIST as global equity markets are cruising near their peaks and lira is gaining some ground (USDTRY at 7.07 levels vs 7.0918 at yesterday's closing bell). U.S. futures are up a few points and Asian markets are mostly trading in the green.
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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