Morning Report (Trive Yatırım Menkul Değerler )

FASTEN YOUR SEATBELTS!
" The BIST100 managed a green closing, despite sailing through choppy waters, to end the day 1% higher at 10,446, but on a low turnover of just TRY 76.2bn.
" The Banks and REITs spearheaded the gains, rising by 1.56% and 1.99%, respectively; the gains at the REITs were triggered by Murat Kurum, the Former Environment and Urbanization Minister, also ex-EKGYO, replacing Mehmet Ozhaseki, thus triggering speculation of further acceleration into new home constructions. On a day of bounce-backs, the Mining stocks decoupled negatively from their peers amid the hawkish rhetoric from Portugal from Fed Chairman Jerome Powell, and yesterday from ECB Head, Christine Lagarde.
" EKGYO-ISCTR and TCELL were yesterday's biggest BIST30 advancers, whereas HEKTS-GUBRF and KCHOL were the most sold.
" As of print, the TRY is trading flat against both the USD and the Euro at 32.55 and 34.95, respectively, and the DXY is also calm at 105.78. The 2yr and 10yr rates continued to retreat by a further 71bps and 11bps to 40.72% and 28.02%, respectively.
" On the Commodity front, Brent is edging higher this morning at $86.42, while GOLD is higher at $2335.
" The Eurozone Inflation rate declined to 2.5% in June, declining from 2.6% in May, thus boosting ECB rate cut hopes.
" At yesterday's ECB forum in Portugal, Fed Chairman Powell acknowledged progress in inflation, but said that more evidence is needed before cutting rates. "I think the last reading and the one before it do suggest that we are getting back on a disinflationary path," Powell said on Tuesday. "We want to be more confident that inflation is moving sustainably down before we start the process of loosening policy."

AGENDA

" On the local front today, the CPI will be released (BBGe: +2.20% m/m; +72.62% y/y), as well as the Summary of the MPC Meeting, while our international colleagues will be following the US FOMC Minutes, ADP figures, Foreign Trade Balance; Weekly Jobless Claims, PMI and Durable Goods Orders, while the Eurozone will be disclosing its PPI figures.

FINANCIAL REUSLTS

" ZOREN: 1Q24 was TRY 3.51BN VS try 4.08bn in 1Q23. The EBITDA margin rose to 56% from 45%.


CORPORATE NEWS

" ENERGY: According to a high-ranking Ministry of Energy Official, Türkiye is meeting with the US regarding nuclear energy projects to increase nuclear energy production and build new reactors.
" WHITEGOODS: Turkish WG exports fell by 22% in May, however production rose by 19%, and sales rose by 4%.
" THYAO: Media reports flashed that it ordered 4 Boeing 777 Cargo Planes.

 
 Trive Yatırım Menkul Değerler A.Ş.
  https://www.trive.com.tr/

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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.