Mornıng Report (Trive Yatırım Menkul Değerler )

• The BIST100 ended an awful week with a loss of 1.67%, parallel to the risk-off mode in the global markets, closing at 9771, and with a low turnover of TRY 73.8bn, led by the fall in the Banks, followed by the Industrial and Conglomerates, thus apparently deciding not to price-in the ratings upgrade form Fitch, that came with a condition. The REITS also had a negative closing, but fared better than its peers, retreating by just 0.24%.
• The Asian markets are trading lower this morning, and the Chinese inflation rate came in lower-than expected at 0.6%, due to the fall in the Transportation and home appliances fall, thus igniting fears of a slowdown, while the US Futures are trading higher this morning. Accordingly, after last week’s negative mood, we expect the BIST to open on a positive note.
• ASTOR-PETKM and GUBRF were Friday’s top and only BIST30 stocks to close in the positive, whereas BRSAN-HEKTS and YKBNK were the most sold.
• As of print, the TRY is trading at 33.99 against the USD and at 37.71 against the Euro, while the DXY is at 101.18.
• On a weekly basis, the BIST100 retreated by 0.63%, while the BIST30 stocks fell by 1.01%, despite the REITS rising by 4.79%, and the Conglomerates surging by 0.69% and 0.52%, respectively. The Mining stocks were the most sold, falling by over 5%.
• The TRY depreciated by 0.28% against the greenback, but appreciated this week by 0.19% against the Euro, while on the Bonds’ side, the 2yr yields closed 3.16% lower to 40.77%, while the 10yr rates rose by 0.98% to 28.80%.
• On the commodity front, Brent fell by a further 7.13% to close at $71.38, while ounce GOLD had a volatile week, falling by 0.24%, but trading between $2529 and $2472 range.
• The 2yr Bond rates fell by 2bps to 40.77%, while the 10yr rates rose by 3bps to 28.80%.
• As of print, the TRY is trading flat against the USD at 33.98, but slightly stronger against the Euro at 37.63. The DXY is at 101.38.
• On the commodity front, Brent is trading higher this morning at $71.72, while ounce GOLD is flat at $2497, despite jumping to $2715 on Friday after the lower-than expected NFP figures were released.
• On Friday, parallel to expectations, Fitch upgraded Türkiye’s rating to BB- on improved fiscal policy, however, downgraded its outlook to “Stable” from “Positive” citing “the risk of policy reversals remains present...given Turkiye's recent history, the strong belief, at the highest political levels, in low interest rates, and the potential resistance from vested interests."

AGENDA

• On the local front this week, the Unemployment Rate-Industrial Production and Retail Trade figures and CBRT Survey will be disclosed, while the main macro indicator from the US will be the Inflation figures, alongside the Wholesale Stock Figures-Weekly Jobless Claims, while the ECB meeting will be held this week. China will be releasing its Inflation figures as well, and Japan will be releasing its Growth-IP and Capacity Utilization Rates.

CORPORATE
• EKGYO: Disclosed that is has borrowed TRY 500mn from the locally established Dünya Katilim Bankası (World Participation Bank).

 
 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.