The brokerage also lowered its rating on Akbank, the biggest Turkish bank by market value, to “underweight” from “neutral,” saying the outlook for earnings is less positive.
President Donald Trump on Sunday sought to pressure NATO allies and China to help reopen the Strait of Hormuz, the critical oil transport conduit that Iran has effectively closed in retaliation for the U.S. and Israeli war against Tehran.
Oil prices hovered around $100 a barrel Monday and stocks fluctuated as the Iran war moved into a third week with both sides showing no sign of backing down and diplomats trying to ensure safe passage for tankers through the crucial Strait of Hormuz.
Bam Adebayo erupted for a jaw-dropping 83 points — the second highest total in NBA history — as the Miami Heat thrashed the Washington Wizards 150-129 on Tuesday.
