Morning Report (Trive Yatırım Menkul Değerler )

WHIPLASH
" Trading at the BIST was volatile yesterday, perhaps even causing some investors whiplash, opening the day with a sharp buying appetite, parallel to the risk-on mode in the global markets, but then was swept by a red-tide of selloffs, before ending the day on a gain of 9521, and turnover of TRY 88.1bn. The BIST managed to rebound from its 200day support level.
" This morning, the Asian markets, with the exception of China, are trading lower due to the strengthening of the Japanese yen, while the US Futures are higher with the exception of the NASDAQ due to Adobe's poor 4Q24 guidance.
" The Banks and Transportation stocks led the gains, rising by 2.25% and 2.62% higher, thanks to PGSUS's positive passenger numbers, and also the Automotive stocks, while the Energy and Industrials lagged their peers.
" BRSAN carried on from where it left off from after Tuesday's stall, and topped the BIST30 list, followed by PGSUS and TOASO shares, whereas ASTOR-EREGL and SASA were the most sold.
" As of print, the TRY is trading weaker against both the USD and the Euro at 33.96 and 37.64, respectively, while the DXY has retreated to 101.09.
" Both the 2yr and 10yr Bond rates rose by 5bps and 9bps to close at 40.61% and 28.75%, respectively.
" On the commodity front, due to the Hurrian off of the Gulf of Mexico, oil prices are trading higher, and Brent is currently higher at $72.06, while after Wednesday's slight pause, ounce GOLD has comeback stronger, and is currently higher this morning at $2570, after the Inflation figures from the US are said and done with.
" Last week, Foreign Investors were net SELLERs of $50.6mn EQUITIES and net SELLERs of $863.7mn BONDS.
" The July Current account balance posted a surplus of $566mn while the 12-month cumulative current account accrued to $19.1bn.
" Yesterday, the Euoprean Central Bank, inline with expectations, slashed rates by a further 25bps to 3.5%, but warmed that it was not "pre-committing" to future path for rates.
" The US Producer Price Index came inline with expectations at +0.2%, and the Weekly Jobless Claims also came inline at 230k.
" US Republican Presidential candidate, Donald Trump, said yesterday that he will not be attending another debate with his Democrat counterpart Kamala Harris.


AGENDA

" The CBRT participation survey will be released on the local side, whereas our international audience will be following the Japanese IP figures and Michigan Consumer Confidence numbers.

2Q2024 FINANCIAL RESULTS
" TCELL: Disclosed a quarterly net income of TRY 2.9bn, much lower than market expectations vs net loss of TRY 820mn y/y. The EBITDA was at TRY 14.9bn and the EBTIDA margin at 42.6.

CORPORATE
" ANHYT: Disclosed that its gross premiums rose by 79% to TRY 7.5bn.
" CWENE: Disclosed that it signed a $4mn agreement with a local client.
" CUSAN: Disclosed that it sold its 158.6k sqm. land in Kirikkake for TRY 634.5mn.
" DOHOL: Disclosed that the Competition Board gave permission to the sale of its 38.2% sales in DOBUR, and 38.1% sale in Burda GmbH.
" KARSN: Disclosed that it signed a new cooperation agreement with Toyota Motor Europe. Under this agreement, Karsan Otomotiv will develop hydrogen vehicles by integrating Toyota Motor Europe's Hydrogen Fuel Cell Module fuel cells. The related agreement was signed on 27.08.2024. As this news was released during the session, the stock closed-limit-up.
" TUREX: Disclosed it renews its agreement with THY DoCo for TRY 1.33bn + VAT.

 
 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.