Morning Report (Trive Yatırım Menkul Değerler )

RISK-OFF CLOSING
" The BIST suffered heavy losses on Friday, falling by 1.89% to 9907, on a low turnover of TRY 82.6bn, with the selloffs in the blue chip stocks, especially KCHOL/SAHOL and AKBNK/ISCTR anchoring the BIST, as investors were on risk-off mode heading into the weekend.
" The spiralling losses at the Banks continued Friday as well, falling on average 4.43%, and the Conglomerates fell by 2.66%, whereas only the Transportation stocks, thanks to PGSUS, managed to close in the green.
" BIMAS-PGSUS and PETKM, followed by GUBRF, were the only four blue chips to close positively, while AKBNK-KCHOL-and SAHOL were the most sold, but the performance among the remaining stocks were not so great either.
" For the week, the BIST100 lost 5.40%, and the BIST30 fell by 5.44%, on the back of the 11.72% selloffs in the Banks, and the 6.23% and 4.63% retreats in the Conglomerates and the Industrial stocks. However, the Transportation stocks managed to edge 2.15% higher thanks to the positive financials and passenger growth figures, while the Mining stocks closed flat, due to the profit-takings on Friday.
" The TRY lost 0.87% in value against the greenback, and over 1% against the Euro, while on the Bonds' side, the 2yr and 10yr rates rose by 2.19% and 2.24% to close the week at 42.89% and 28.32%, respectively.
" On the Commodity front, Brent rose by 2.69% due to expectations of a retaliation from Iran against Israel, as well as Libya closing its oil fields due to its spat with Spain, while ounce GOLD retreated by nearly half-percent.
" As of print, the TRY is trading a tad weaker against both the USD and the Euro at 33.55 and 36.67, while the DXY is flat at 103.18.
" On the Commodity front, Brent is trading slightly higher at $79.51, while GOLD is flat at $2432. This week's US Inflation reading on Wednesday, can direct the direction of the markets and the commodities.
" Natural gas prices in Europe hit their highest level in 8 months, after Ukrainian forces took control of the last remaining transit hub for Russian gas into Europe at the south-eastern Russia's Kursk region in Sudzha. Accordingly, prices rose for at least three consecutive days, surpassing 40 euros ($43.71) per megawatt-hour for the first time since Dec. 4, 2023.
" The Turkish Industrial Production fell by 2.1% on a monthly and 4.7% on an annual basis, thus increasing the probability of rate hikes from the CBRT in the 4th quarter.

AGENDA

" On the local front this week, the Unemployment Rate-Retail Trade Figures-Current Account Balance-Home Sales Figures and Prices-Foreigners' Net STOCK/BOND Holdings, and the Expected 12mth Inflation Figures will be disclosed.
" On the International side, we will be welcoming the Inflation Rates from the US-UK and Japan, as well as the US Industrial Production-Capacity Utilization Rate-Building Permits and New Housing Starts will be disclosed. The Eurozone will be disclosing its growth figures and Industrial Production.

2Q2024 FINANCIAL RESULTS
" BRSAN: Quarterly net profits came in at TRY 273mn vs TRY 1.19mn y/y. The Company also disclosed that it expects revenues for 2023 to be around $1.7-2bn, and the EBITDA margin at 8-10%.

CORPORATE NEWS
" ZOREN: According to the Jerusalem Post, the Defense Ministry has extended a contract with Dorad Energy, a power plant supplying electricity to IDF bases, despite a 25% ownership by ZOREN, in spite of Türkiye's boycott on Israeli exports and imports due to the war in Gaza. https://www.jpost.com/israel-hamas-war/article-813999. As such, on the back of the media reports, ZOREN disclosed that the Company is continuing its efforts to remove its subsidiary shares in Israel and the Dorad Natural Gas Power Plant from its portfolio.
" ANSGR: Disclosed that its Jan-July 2024 premiums rose by 71% to TRY 36.6bn.
" THYAO: Disclosed that its total passengers carried fell by 2.6% y/y to 8.33mn from 8.56mn, as domestic passenger count fell by 4.2% to 3.12mn, and international passengers carried fell by 1.7% to 5.21mn from 5.29mn.

 
 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.