Morning Report (Trive Yatırım Menkul Değerler )

BIST TAKES WRONG TURN FROM PEERS
" Despite a positive start to the session, rising by more than 2% at the opening bell, yet much lower compared to the gains observed at the Asian markets, profit-takings slowly chipped away at the gains, until the BIST closed the day on a loss of 0.12% to close at 9881, and with a turnover of TRY 93.6bn.
" The US markets snapped a 3-day negative closing yesterday, led by the rebound in the tech stocks.
" Today, BOJ's Deputy Governor eased market concerns by stating that they are not planning further rate hikes amid the high volatility in the markets, thus spurring expectations of a positive opening in the European and US markets, however, closing of credit positions on the local front may lead to sales towards the end of the day.
" The Hezbollah missile strikes on Israel; thus the cliché geopolitical tension can be conveniently applied to the losses, but the truth of the matter is that investors are still not satisfied the risks have been dissipated, and that local investors are lacking a new catalyst after the 2 notch ratings upgrade from Moody's.
" It was once again the usual suspects, as both the Banks and the Conglomerates weighed down on the gauge, falling by 1.77% and 0.84%, respectively, while the Mining stocks and the REITs were yesterday's biggest advancers.
" Looking at the BIST30 listings, KOZAL took the gold medal, rising by a little over 5.50%, while the silver and bronze was awarded to OYAKC and TUPRS, the latter boosted by its upbeat financial earnings and handsome dividend pay-out. On the bottom end of the gauge, KRDMD lost over 3%, and was followed by KONTR and PETKM shares.
" Looking closer at some individual stocks from yesterday, AEFES shares fell by over 6% after Russia blocked AB InBev's Russian operation sale to Anadolu Efes, as it was agreed last year that AEFES would acquire 50% share of their venture. TOASO also fell by 1.38% after media reports that Türkiye and the Chinese carmaker Chery were close to signing a deal to manufacture EV cars in Türkiye, after the recent agreement with peer BYD, thus increasing competition for local car companies.
" As of print, the TRY is trading stronger against the USD at 33.50, after seeing 33.64 yesterday, and has also strengthened against the Euro to 36.55 from 36.72, while the DXY has risen to 103.32. The 2yr and 10yr local Bond rates rose by 68bps and 35bps to close at 42.99% and 28.57%, respectively.
" On the Commodities front, Brent is trading slightly higher this morning at $76.66, and GOLD is flat $2394.
" European retail sales fell by 0.3% y/y in June, vs the expected 0.1% rise, thus causing the European markets to pare some of its earlier gains.
" The REER in Türkiye has reached its 40mth peak to 62.90.

AGENDA

" On the local front today, the Cash Budget Balance will be released, while on the international side, the German Industrial Production figures will be monitored.
" ISCTR is expected to release its 2Q24 financials today after the markets close.

2Q2024 FINANCIAL RESULTS
" FROTO: Disclosed a quarterly net profit of TRY 5.98bn, which was below the TRY 7.20bn market expectations. Domestic sales dropped by 19% to TRY 54.2bn, and sales fell by 5% y/y.

CORPORATE NEWS
" DOHOL: Disclosed that the company has entered into a 'Share Transfer Agreement' dated 06.08.2024 with the following companies for the acquisition of shares in Doku Madencilik ve Ticaret A.Ş. (Gümüştaş Madencilik) representing TRY 3.465mn total nominal valued shares of its capital; 1,732,500 TL nominal valued 50 % of shares for 9,000,000 US Dollars (5.1948 US Dollars per share) from Kurmel Holding A.Ş. and 866,250 TL nominal valued 25 % of shares for 4,500,000 US Dollars (5.1948 US Dollars per share) from Ortadoğu Otomotiv Ticaret A.Ş. This totals to a 2,598,750 TL nominal valued 75 % of shares, which will be acquired for a total of 13,500,000 US Dollars, subject to negotiations and certain adjustments.
" DOHOL: Disclosed that a 'Share Transfer Agreement' was signed between DMC Invest B.V. and Believe International for the sale of the remaining 40 % shares (5,447,934 TL nominal value) held by DMC Invest B.V. for €38.3bn.

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

***
                        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.