Morning Report (Trive Yatırım Menkul Değerler )

No Last Minutes Saves This Time
" Unlike Tuesday, there were no last-minute news flashes that overturned the sales into buys, causing the BIST to face a loss of 0.86% to close at 10,248, but on a relatively low turnover of TRY 90.4bn, due to the profit-takings in the Banks, as well as the losses in the Industrial stocks.
" As such, the Banks fell by 1.55% and the Industrials by 0.86%, while the Mining and REITs managed to slightly outperform their peers with positive gains.
" ENKAI-KOZAA and ALARK were yesterday's most bought BIST30 stocks, whereas SASA-TUPRS and AKBNK were the most sold.
" As of print, the TRY is trading weaker against both the USD and the Euro at 32.28 and 34.69, respectively, while the DXY is flat 105.56. Yesterday, the 2yr Bond rates rose by 36bps to 44.72%, whereas the 10yr rates fell by 56bps to 28.30%.
" On the Commodity side, Brent is trading slightly higher this morning at $83.65, thanks to the decrease in the US inventories, meaning a usage in petrol and thus signalling a pickup in the economy, and GOLD is slightly higher this morning at $2319.
" The US wholesale inventories fell by 0.4% in March, and the Industrial Production in Germany declines by 0.4%, less than expected, thanks to construction.
" Austrian central bank Governor Robert Holzmann said in an interview yesterday that there is no reason for the ECB to cut rate interest rates too fast or too strong. "If the time comes in June, further steps will certainly follow," said Holzmann. "But I see absolutely no reason for us to cut key interest rates too quickly, too strongly."
" The Turkish Treasury Cash Budget gave a deficit of TRY 237bn in April, vs TRY 166.8bn in March.
" Today, we expect a positive opening parallel to the green trading in the Asian markets and positive opening expected in the European markets.
AGENDA
" The CBRT Inflation Report Presentation will be the main local focus today, as well as the Weekly Foreigners' Net STOCK/BOND Holdings, while the US will be releasing the Weekly Jobless Claims Numbers, and the BOE will disclose its policy rate decision today.
" EREGL and VAKBN are expected to release their 1Q24 financials today after the session closes.

FINANCIAL RESULTS
" PGSUS: 1Q24 Net Income fell to TRY -3.5bn from TRY -598.1bn y/y. EBITDA also fell to TRY 1.18bn from TRY 1.2bn y/y. Revenues rose to TRY 17.39bn from TRY 8.79bn, however COGS also rose to TRY 17.95bn from TRY 8.55bn.

CORPORATE NEWS
" ALFAS: Disclosed that it received an order for the sale of solar panels, totalling approximately $23mn + VAT from a local buyer.
" VBTYZ: Disclosed that it signed an $8mn agreement for 3 years with a local airlines company.

 
 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.