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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EMERGING MARKETS
- Turkish Stocks have been on an impressive run since the start of October as the CBRT enacted an easing cycle broadly into oncoming CPI headwinds. The Bist100 Index has risen +12% since the start of October as the 1-wk repo has declined 400bps.
- After underperforming its peers for most of the year, with valuations among the cheapest in the EM space, Turkish stocks are now surging higher into year-end – narrowing the gap on SA (17.05% YTD) & Russia (22% YTD).
- Russian stocks have outperformed throughout the year, taking the lead in June as oil prices continued to push higher, but have turned 7.7% lower from the October peaks in response to declining oil prices.
- Meanwhile, the inversely correlated Top40 index has turned higher since September, buoyed by firmer commodity prices – with mining and oil companies standing among the top performers. The sharp decline in Index heavyweight Naspers also found a more solid base in September after being dragged down by Chinese firm Tencent.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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