Morning Report (Trive Yatırım Menkul Değerler )

WHAT MONDAY BLUES?
" The BIST opened the new week and new month with a bang, closing 2.82% higher and once again managing to surge over the 10k level at 10,110 and with a higher level of enthusiasm with a turnover of TRY 87.6bn, led by the 4.65% surge in the Banks, and followed by the Conglomerates and Transportation stocks, rising by 2.94% and 2.84%, respectively, while the Energy and Mining stocks lacked the general enthusiasm.
" We can attribute yesterday's gains to the expected ratings upgrade from Fitch on Friday, coupled with Thursday's expected unveiling of the new Medium Term Economic program, and whether or not there will be any relaxing in loan rates as to give the Industrials some breathing room, and of course, the expected interest rate cuts from the CBRT in the near future.
" BRSAN-YKBNK-AKBNK were the most bought, whereas FROTO-HEKTS and TOASO were the most sold, the Automotive stocks faced profit-takings after Thursday's performance.
" Elsewhere, ENKAI shares also closed 4% higher thanks to the prospective Russian satellite city in the eastern part of that country, and TKFEN shares were given a nice 2% nudge due to the Saudi Aramco agreement.
" As of print, the TRY is trading slightly weaker against the greenback at 33.94, but stronger against the Euro at 37.52, while the DXY is higher this morning at 101.75.
" On the Commodity front, Brent is trading flat at $77.14, while GOLD is slightly lower this morning at $2495.
" The Turkish economy grew by 2.5% vs the market expectation 2.7% on an annual basis, as the tightening monetary policy on consumer consumption is beginning to take effect.
" The Treasury and Finance Minister, Mr. Mehmet Simsek stated that they expect the current account deficit to fall in July and August, adding that they expect the CAD to fall to 16bn$ from 57bn$ from last May.
" According to Bloomberg, Türkiye has formally made a bid to be part of the BRICS, however, no official comment has been made from either the Foreign Affairs Department or by the Presidential Office.


AGENDA

" On the local front today, the Inflation rates will be released (BBGE: +2.29% m/m; 51.86% y/y), while we welcome our US colleagues with the PMI figures and Construction Expenditure figures.

2Q2024 FINANCIAL RESULTS
" EKGYO: Released a quarterly net income of TRY 958mn vs TRY 418mn TL net profit y/y. 1H24 net profits were TRY 1.04bn vs TRY 2.59bn y/y. The REIT disclosed that it expects 2024 YE net profits to be at TRY 4.21bn.

CORPORATE
" BRSAN: Disclosed that an agreement has been signed between its subsidiary Borusan Berg Pipe and Blackcomb Supply Co, LLC, a WhiteWater affiliated company, regarding Blackcomb Mainline Project in North America, with a contract value of approximately 363 million USD. Deliveries under this contract are scheduled to be carried out in 2025.


 
 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.