The parliament approved an omnibus draft law by the ruling party AKP, including some of the measures promised in the lira rescue package, announced last month, the Bloomberg HT financial news website reported yesterday. It updated the 5% pay hike to ...

Turkish equities were up 2% last week with aviation stocks and steel makers were clear outperformers. Halkbank stock will also be in the spotlight for its case in the US will be on hold as it appeals to the Supreme Court. Home sales increased by 113....

12M-TP is revised up to TL43 from TL28, implying 49% upside. EREGL remains one of our top picks. We expect EREGL to distribute TL3.96/shr cash dividend in 2022E from 2021E earnings. Considering the indications and run rates for 1Q22E, we still see an...

Turkish equities have been pushing higher by aviation and steelmaker stocks since the beginning of the year. SAHOL TI> bought back 570K shares at an average price of TL15.15 on 13 Jan 2022. Since 02 July 2021, the total number of shares bought back r...

Impressive topline growth but weak margins are likely in 4Q21. We foresee lower margins now for 2021E and 2022E but topline growth is likely to much higher than we had thought earlier. Arcelik is currently trading at 4.2x EV/EBITDA and 5.8x P/E based...

We expect the economies in EU-CEE 1) and in the Western Balkans to grow by around 4.0% in 2022 and by 4.4% in 2023, slowing from 5.1% in 2021. Pent-up consumer demand is expected to drive the recovery in 1H22, while capex and exports could be underpi...