Morning Report (Trive Yatırım Menkul Değerler )

EXHAUSTION?
" The BIST started the week on a negative note, falling by 1.59%, with the sales accelerating towards the end of the session, to close at 10,056, but with a low turnover of TRY 93.5bn, as the Industrials-REITs and Energy stocks all losing over 2% for the day.
" As such, when the dust cleared for the day, the Industrials had lost 2.16%, the REITs, -2.32% and the Energy stocks fell by 2.75%, while the Banks lost on average 1.86%, but GARAN and ISCTR were better insulated from the sales then their peers, as their losses where less than 1%, ISCTR was insulated thanks to its above-par financial results.
" SASA-TOASO and ARCLK managed to close positively, while KOZAA-EKGYO and PETKM-thanks to HSBC's "reduce" albeit TRY 5 target price hike, were the most sold. Looking on a broader scope for good news, CLEBI shares rose by over 3% thanks to their financial results.
" As of print, the TRY is trading weaker against the USD at 32.24, but a tad weaker against the Euro at 34.78, while the DXY has risen slightly to 105.28. The 5yr CDS rate is trading at 275.
" On the commodity front, Brent is trading higher this morning after dipping below the $83 ticker yesterday at $83.25, while GOLD prices have edged upwards to $2344.
" The local Current Account Balance posted a deficit of $4.5bn in March, however, the 12mth rolling rate fell to $31.2bn from $31.83bn.
" The US Survey of Consumer Expectations revealed yesterday that Americans projected the CPI rising to 3.3% in April from the 3.0% reading in March, while inflation 3 years from now is seen moderating to an expected 2.8% rise from the prior month's 2.9%. Five-year ahead inflation was seen at 2.8%, versus March's 2.6%
" Yesterday, Treasury and Finance Minister, Mr. Mehmet Simsek, unveiled the 3-year austerity plan to curb inflation, with the main initiative being to increase efficiency of the public sector through cost-cutting measures such as banning the purchase/rent of new vehicles for civil servants. There will also be a three-year suspension of the construction or purchase of public buildings, except for those built to reduce earthquake risks or those impacted by natural disasters.
" The MSCI Index changes are expected to be released today, with the possible additions being MGROS-TAVHL and AEFES.
AGENDA
" On the local front, the Central Gov't Budget Balance will be released, while on the international side, the US Production Price Index will be released, and Germany will release its Zew Index.
" Fed Chairman Jerome Powell is also expected to speak today.


FINANCIAL RESULTS

" BIMAS: 2023 Annual net income was at TRY 15.44bn vs TRY 16.60bn y/y. Net Sales rose to TRY 328.4bn from TRY 279.3bn, and the EBITDA was flat at TRY 13.7bn vs TRY 13.6bn y/y. For 2024, BIMAS expects sales to grow by 75% +/- 5%, aims the EBITDA margin at 7.5%-8.0%, and CAPEX/Revenues at 3.0%-3.5%.

CORPORATE NEWS

" ENKAI: Will distribute gross TRY 1.25 cash dividends per share today.

 
 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.