Mornıng Report- (Trive Yatırım Menkul Değerler )

• The BIST100 surged 2.23% yesterday, as investors continued to price-in the potential catalysts, as we listed in yesterday’s daily, such as removal from the FATF Grey list, to be announced on June 28th, continuing rating upgrades from Sovereign Credit Agencies, and the potential shelfing of the controversial transaction-based tax scheme-the ambiguity finally cleared-up by Treasury and Finance Minister, Mr. Mehmet Simsek’s tweet yesterday, stating that the tax was cancelled, per the media reports on Tuesday hinting that President Erdogan intervened in the decision. The next major ratings upgrade decision will be released by Moody’s on July 19, 2024.
• The Mining and Service stocks soared by 3.84% and 3% respectively, whereas the buying appetite among the Banks was a little less enthusiastic, rising by a mere 0.42%. The Industrial and Conglomerates also rose above 2%.
• BIMAS, thanks to its strong financial results, was the most bought BIST30 stock, followed by KOZAA and ENKAI, whereas AKBNK-TCELL and FROTO were consequently the only 3 listed blue-chips to close in the red.
• As of print, the TRY is trading considerable weaker against both the USD and the Euro at 32.50 and 34.90, respectively, while the DXY is slightly higher at 105.33. Yesterday, both the 2yr and 10yr rates rose by 14bps and 46bps to close at 43.16% and 28.60%, respectively.
• On the Commodity front, Brent is trading slightly lower at $82.10, and GOLD is a tad higher at $2306, as of print.
• Russian President Vladimir Putin announced yesterday that the export ban on countries implementing price ceilings will continue.
• Last week, foreign investors were net SELLERs of $543mn STOCKS, but net BUYERs of $541mn BONDS.
• The BIST Index Changes have been disclosed, effective as of July 1st-August 29, 2024. Accordingly, DOAS will enter the BIST30 listings, while ODAS shares will be excluded, and on the BIST50 side, AEFES-SOKM and TTRAK will be included, while ALFAS-CIMSA and KOZAA will be excluded.
• Home Sales figures dropped for an 11th consecutive month by 2.4% to 110,588 year-year.

AGENDA

• On the local front today, the CBRT Expectations Survey will be released, whereas the Eurozone will disclose its Trade Balance Figures, as well as ECB President Lagarde’s speech, while the US will disclose the Michigan Consumer Confidence numbers.
• Please note that the BIST will be closed until Thursday, 20 June 2024, in observance of the Eid Holiday.

FINANCIAL RESULTS

• AKSEN: 1Q24 net income TRY 736mn vs TRY 1.6bn y/y.
• GLYHO: 1Q24 net income TY 239mn vs TRY 171mn y/y.
• DOHOL: 1Q24 net income TRY 950mn vs TRY -1.14bn y/y.
• MAVI: 1Q24 net income TRY 960mn vs TRY 421mn Y7y.
• PETKM: 1Q24 net income TRY 870.5mn vs TRY -3.3bn y/y.
• TKFEN: 1Q24 net income TRY -530mn vs TRY -1.89bn y7y.


CORPORATE NEWS

• ANSGR: Jan-May 2024 gross premiums rose by 81.4% year/year to TRY 26.4bn.

 
 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.