Morning Report (Trive Yatırım Menkul Değerler )

MAKING AMENDS
" The BIST maintained its winning streak from the previous day, closing 0.74% higher to 10,099, but on a rather cautious low turnover of TRY 83.7bn, led by the gains in the Industrial and Conglomerates, while the Banks continued to bleed.
" The Banks fell by nearly 0.3%, whereas the Industrials and the Conglomerates rose by 1.58% and 1.22%, respectively, while the Mining stocks also faced small scale profit takings.
" SASA-TOASO and EREGL were yesterday's biggest advancers, whereas ENKAI-KONTR and GARAN were the most sold.
" We observed gains among recent laggards TOASO and AEFES after their recent underperformance.
" The Asian markets and US Futures are indicating a green opening, thanks to the lower-than-expected Weekly Jobless Claims figures yesterday, coming in at 233k vs the 240k expectations, after last week's shockingly high numbers, sending the markets in disarray and talks of a recession and if the Fed was too late to cut rates-thus putting to bed all those concerns, at least for this week.
" While we are on the topic of the Fed, Republican nominee Donald Trump said that the president should have "some say" over interest rates and monetary policy, a move that would go against the longstanding practice of the US Federal Reserve being independent of political actors.
" As of print, the TRY is trading weaker against the USD at 33.55 but flat against the Euro at 36.64, while the DXY has retreated slightly to 103.16. The 2yr and 10yr Bond rates rose by 40bps and 17bps to 42.87% and 28.36%, respectively.
" On the Commodity front, Brent is paring its early week losses on the back of the geopolitical tension and Libya closing its oil fields, but seems to be trading lower this morning at $78.84, amid calls from the US-Egypt and Qatar for a Gaza cease-fire on August 15th, amid expectations of a retaliation from Iran. Ounce GOLD is trading stable this morning at $2422, after once again breaching the $2400 barrier.
" Last week, Foreign investors were net SELLERs of $169mn STOCKS and net SELLERs of $162mn BONDS.
" At yesterday's 3rd. Inflation Report Conference of the year, CBRT Governor, Fatih Karahan, maintained the inflation rates unchanged for 2024 at 38%, and maintaining it at 14% and 9% for 2025 and 2026, respectively.

AGENDA

" The Industrial Production figures will be disclosed on the local front, whereas on the international side, the German Inflation figures and China Inflation and Current Account Balance will be disclosed.

2Q2024 FINANCIAL RESULTS
" KCHOL: Disclosed a quarterly net profit of TRY 164mn, thus below the market estimate of TRY 3.29bn. The EBITDA also fell by 52% to 68.8mn from TRY 142mn y/y.
" VAKBN: Disclosed a quarterly net profit of TRY 7.17bn, vs TRY 12bn y/y. while the market expectations were TRY 7bn. The ROE declined to 15.3% from 27%, NII increase by 21% to TRY 20.8bn y/y, and the NIM was 1.8%.

CORPORATE NEWS
" ALTNY: Disclosed that its subsidiary signed a $93.6mn agreement with the TUSAS air defence company.
" TKFEN: Disclosed during the session that its construction subsidiary won a $235mn project in Saudi Arabia.
" SASA: Disclosed that its 700% capital increase via bonus issue was approved by the Capital Markets Board, and CCOLA disclosed that its 1000% capital increase via bonus issue was also approved by the CMB.

 
 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.