TUR Stock Recent News
TUR LATEST HEADLINES
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.
Now that the election is done and dusted, President Erdogan has hit the economic reset button. Having signaled a rate hike path and outlined measures to balance the country's twin deficits, the Turkish investment case appears significantly de-risked. With TUR valuations still heavily discounted relative to its underlying earnings growth, the ETF looks interesting here.
Last week was marked by a few market-moving events including the signing of debt-ceiling debt, upbeat jobs data and weak manufacturing data.
Unorthodox monetary policies led to an unsustainable currency equilibrium in favor of the Lira and created a de facto dual exchange rate. Elections will likely be the end of the enforced currency rate and plummet the Lira.
While the February indicators show earthquake-related weakness in economic activity, recent data releases signal a rapid recovery. The drop in annual inflation continued in April, as widely expected, due to strong base effects.