Turkey's equity market to be led by the banks

Professional Adviser
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Despite the Turkish equity market's failure to respond to positive economic drivers, many observers ...

Despite the Turkish equity market's failure to respond to positive economic drivers, many observers believe the medium to long-term view for the market remains promising. The problem is that the effect of falling interest rates has not yet filtered through to company profits, which investors are carefully examining for signs of recovery before they re-enter the market, says Leila Kardouche, a fund manager with Schroder Global Emerging Markets fund. She says: 'Since last year's currency devaluation it has been difficult for companies to grow profits. However, we are expecting to see s...

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