TUR Stock Recent News

April became the worst month of 2024 for Wall Street with the key equity gauges retreating at least by 3%.

The iShares MSCI Turkey ETF has underperformed global markets and emerging market peers, making it a potential mean-reversion trade. TUR's valuations are cheap, with a low P/E ratio compared to other ETFs. However in local terms, Turkish equities have already seen strong appreciation this year, and now local bank deposits have become more attractive.

Country Turkey's ETF as been hogging investors' attention this Thanksgiving due to upbeat prospects.

Turkish stocks slumped on Wednesday, with the speed of the declines resulting in two trading halts, as investors worried about the country's relationship with Israel and the upcoming interest rate decision by the central bank due Thursday.

iShares MSCI Turkey ETF has performed well since July, making it an interesting satellite equity play. TUR provides targeted access to Turkish stocks and is ideal for investors looking for exposure to the largest Turkish companies. Despite political risks, the ETF presents a compelling contrarian opportunity with potential for growth if inflation is controlled.

For investors seeking momentum, IShares MSCI Turkey ETF TUR is probably on radar. The fund just hit a 52-week high and is up 66.64% from its 52-week low price of $23.86/share.

Annual inflation recorded another strong increase in September due to a broad-based deterioration in price dynamics while the rise in energy prices and continuing pressure in services is attracting attention. Core inflation (CPI-C) came in at 5.3% month-on-month, rising to 68.9% on an annual basis.

August was an average-to-downbeat month for investors, mainly due to rising rates.

Turkey's surprise interest rate hike has garnered attention and optimism from investors. Investors now can play the pure-play Turkey ETF, which carries a Zacks Rank #3 (Hold).

Wall Street delivered a decent-to-upbeat performance last week.