Morning Bul (Gedik Yatırım)

Push & Pull
 
Today we expect a cautious opening today. Market continued to drop on Friday due to weakness in Banks and conglomerates. Koc Holding announced that talks on the sale of Yapı Kredi shares have been terminated and some Sabancı holding members registered SAHOL and AKBNK shares to sell. Today we may see some reactionary buying after 8 days of weakness. 10,300 and 10,600 are the support and resistance levels.
 
 
Stock in Trade
 
" TurkStat will release May inflation today; market expects CPI inflation at 3.1% MoM
" A notable acceleration in GDP growth in 1Q24
" The Treasury will hold five auctions this week.
" Turkey's commercial property price index (CPPI) was 1,142 in 1Q24 (4Q23: 1,020, 3Q23: 907, 2Q23: 743), representing an 82% YoY increase (4Q23: +98%, 3Q23: +106%, 2Q23: +113%). (Neutral for REIC stocks)
" Koc Holding announced that talks on the sale of Yapı Kredi shares have been terminated. (Neutral)
" Sevda Sabancı and Serra Sabancı have initiated a process to convert unregistered AKBNK shares in their portfolio with a nominal value of TL 45.8mn to be traded on the stock exchange. (Neutral)
" Aksa Enerji (AKSEN TI, Outperform, TP TL48.14/share) Aksa Enerji and KIB-TEK Agreement: Kalecik Power Plant Expansion Completed (Slightly Positive)
" TAV Airports (TAVHL TI, N/R) new international terminal at Almaty turns operational. (Neutral)
" Sun Tekstil (SUNTK TI, N/R) overview of analysts and portfolio manager meeting. (Neutral)
" Sise Cam (SISE TI, Marketperform, TP TL57.32/share) reported an inflation adjusted EBITDA of TL3,133mn in 1Q24, representing a 64% real decrease YoY. (Negative)
" Dogus Otomotiv (DOAS TI, Marketperform, TP TL352.74/share) reported an inflation adjusted EBITDA of TL4,421mn in 1Q24, representing a 34% real decrease YoY. (Negative)
" Akcansa (AKCNS TI, Marketperform, TP TL191.38/share) reported an inflation adjusted EBITDA of TL470mn in 1Q24, representing a 50% real decrease YoY. (Negative)
" Dividend payments for today: ALGYO (Gross TL0.0500 DPS - Net TL0.0500 DPS)


Economic Calendar
" Jun03: CPI, May (Prior: MoM: 3,18%, YoY: 69,80%)
" Jun05: SAHOL & TTKOM's 1Q24 Financial Results
" Jun06: AKSEN's dividend payment
" Jun07: Cash Budget Balance, May (Prior: -237.0b)
" Jun07: AKENR's 1Q24 Financial Results
" Jun10: Unemployment Rate, Apr (Prior: 8,60%)
" Jun10: Industrial Production, Apr (Prior: MoM: -0,30%, YoY: 4,30%)
" Jun10: Current Account Balance, Apr (Prior: -4.54b)
" Jun11: Deadline for 2024/1Q unconsolidated industrials financial statements
" Jun13: Home Sales, May (Prior: 75.6k, YoY: -11,80%)
" Jun13: DOHOL's, TKFEN's 1Q24 Financial Results
" Jun14: Expected Inflation Next 12 Mth, Jun (Prior: 33,21%)
" Jun20: Central Gov't Budget Balance, May (Prior: -177.8b)
" Jun21: BIMAS's 1Q24 Financial Results
" Jun21: Deadline for 2024/1Q consolidated industrials financial statements
" Jun24: Capacity Utilization, Jun (Prior: 76,30%)
" Jun25: House Price Index, Apr (Prior: YoY 51,99%, MoM 1,21%)
" Jun28: LOGO's dividend payment
" Jul19: Moody's credit rating
" Jul22: LKMNH's dividend payment
" Aug12: MSCI Quarterly Index Reviews
" Sep06: Fitch's credit rating
" Nov01: S&P's credit rating
" Nov07: MSCI Semi-Annual Index Reviews

 


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                               Yasal Uyarı
 
 Burada yer alan yatırım bilgi, yorum ve tavsiyeler yatırım danışmanlığı kapsamında değildir.Yatırım danışmanlığı hizmeti ; aracı kurumlar, portföy yönetim şirketleri, mevduat kabul etmeyen bankalar ile müşteri arasında imzalanacak yatırım danışmanlığı sözleşmesi çerçevesinde sunulmaktadır.Burada yer alan yorum ve tavsiyeler, yorum ve tavsiyede bulunanların kişisel görüşlerine dayanmaktadır.Bu görüşler mali durumunuz ile risk ve getiri tercihlerinize uygun olmayabılır.Bu nedenle, sadece burada yer alan bilgilere dayanılarak yatırım kararı verilmesi beklentilerinize uygun sonuçlar doğurmayabilir.