Morning Report (Trive Yatırım Menkul Değerler )

PROFIT-TAKING NAME OF THE GAME
" The BIST ended Friday on a sour note, dropping by half-percent, to close at 10,219, and on a turnover of TRY 111.3bn, due to the profit-takings in the Banking and Aviation stocks, while the Conglomerates managed to diverge positively.
" The Banks and Aviation stocks fell by 1.91% and 1.49%, respectively, however, the Mining stocks due to KOZAL's poor financial results, fell by 3.41%, whereas the Conglomerates managed to close the day 0.41% higher.
" AKSEN and EREGL were both rewarded for their positive financial results by investors, and were thus the most bought BIST30 stocks, followed by SISE, whereas EKGYO-KOZAA and KOZAL were the most sold.
" Both the 2yr and the 10yr Bond yields closed a further 193bps and 109bps lower to 43.15% and 27.23%, respectively.
" For the week, the BIST100 and BIST30 both fell by 0.57% and 0.79%, respectively, due to the 0.91% and 1.48% retreat in the Banking and Industrial stocks, respectively, while the Conglomerates surged by 1.89%. The Energy stocks fell by 2.85% and the Mining stocks fell by 4.38%, due to the speculated delay in the Fed rate cuts.
" The TRY was flat for the week against the USD, but stronger against the Euro by 0.22%. On the Bonds' side, the 2yr rates retreated by 3.60%, and the 10yr rates fell by 5.81%.
" On the commodity front, Brent traded fairly flat, falling by a mere 0.23%, while GOLD prices rose by 2.50%.
" As of print, the TRY is trading stronger against both the USD and the Euro at 32.22 and 3471, respectively, while the DXY is trading a tad higher this morning at 105.32.
" Brent is starting the week lower at $82.24, due mainly to sings of weak demand and comments from Fed officials appear to stall the long-awaited rate cuts, which could slow growth and thus lessen fuel demand. Thus, is also trading lower at $2353.
" Treasury and Finance Minister, Mr. Mehmet Simsek, is expected to disclose details of the new public cost cutting plan today.
" Please note that the MSCI potential additions and deletions are expected to be disclosed tomorrow, May 14th, with the possible additions being MGROS-TAVHL and AEFES, thus, we may see a positive tilt in trading towards these names.
AGENDA
" The Current Account Balance and Retail Trade numbers will kick-off the new week, followed by the Central Gov't Budget Balance, Net Change in Foreigners'' STOCK/BOND Holdings, and concluding with the Home Price and Sales figures, as well as the Expected 12mth Inflation survey.
" On the International front, the US Inflation figures will be carefully watched, alongside the Building Permit numbers, New Home Starts, Industrial Production and Capacity Utilization, while the Eurozone will release the Quarterly GDP figures, alongside Inflation and Industrial Production. Germany will also be releasing its Inflation and Zew Index.

FINANCIAL RESULTS

" HALKB: Disclosed a 1Q24 net income of TRY 4.82bn vs the expected TRY 4.17bn.
" ISCTR: Disclosed a 1Q24 net income of TRY 14.04bn vs the expected TRY 10.72bn.
" CLEBI: Disclosed a 1Q24 net income of TRY 510.7mn from TRY 114.2mn y/y. EBITDA also rose to TRY 708mn from TRY 313.4mn
" ENKAI: Disclosed a 1Q24 net income of TRY 4.69bn vs the expected TRY 7bn and compared to TRY 3.81bn y/y. EBITDA rose to TRY 2.98bn from TRY 2.36bn.
" OTKAR: Disclosed a 1Q24 net loss of TRY 417mn vs loss of TRY 679mn y/y. EBTIDA was TRY -590.4mn vs TRY -855mn y/y.

CORPORATE NEWS

" AKGRT: Disclosed that its April commissions rose to TRY 2.9bn from TRY 1.8bn y/y, and that the Jan-Apr 2024 commissions rose by 78% to TRY 12.4bn from 6.97bn.

 
 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.