Morning Report (Trive Yatırım Menkul Değerler )

NEGATIVE DIVERGENCE
" The BIST100 pared the previous day's gains, by closing yesterday 0.90% lower to 9831, and on a turnover of TRY 72bn, accelerating after the release of the US inflation figures, but to point to inflation would be a convenient scapegoat, considering that the European and US markets traded higher even after the release of the figures, which, with the exception of the Core rate, was perfectly in-line with the expectations, thus making us think that the reason was more due to the geopolitical tension in the region.
" This morning, the Asian markets are trading higher thanks to the higher-than-expected Japanese GDP figures and Chinese Retail numbers, as well as the US Futures, which may reflect positively onto the local markets as well at the opening.
" As such, the Banks shed 0.83% lower, and the Transportation stocks, especially the Airlines, fell by nearly 2%, while the Mining and Technology stocks were yesterday's biggest gainers. We are also observing the small cap stocks perform better than their blue-chip peers, as of late, especially the Food stocks.
" KOZAL-AKBNK and ALARK, were yesterday's biggest advancers, while SASA-PGSUS and KRDMD were the most sold stocks.
" Iron ore prices plummeted yesterday due to falling iron ore prices on the back of the slowdown in demand from China, thus increasing speculations of a production cut by China, and causing for the overhang in the KRDMD shares.
" As of print, the TRY is trading flat against both the USD and the Euro at 33.61 and 37 levels, respectively, and the DXY is also unchanged this morning at 102.60. The 2yr Bond rates fell by 31bps to 42.41%, whereas the 10yr yields went the opposite direction, rising by 31bps to 28.72%
" On the Commodity front, Brent is trading slightly higher this morning at $79.36, while GOLD is higher at $2451.
" Yesterday, the much anticipated US CPI figures were disclosed. Monthly inflation came in at 0.2%, in-line with the expectations, and the annual rate came in at 2.9% vs 3%, however, the core CPI figure was at 3.3% vs the expected 3.2% As such, investors are now assessing whether the prints point to an interest rate cut of 25 or 50 basis points by the Federal Reserve in September. Market pricing suggests a 58.5% of a 25bps cuts, and 41.5% of a 50bps rate cut, according to CME's FedWatch tool.
" Closer to home, the UK inflation rate rose by 2.2% in July, vs the 2.3% expectations, thus coming in slightly below expectations but inching back above the Bank of England's 2% target.

AGENDA

" On the local front today, the Central Gov't Budget Balance and Foreigners' Net STOCK/BOND Holding will be released, while the US will be releasing the New York Fed Industrial Index-Retail Sales, Industrial Production-Capacity Utilization Rate, and of course, the Weekly Jobless Claims figures.
" EREGL and CIMSA are expected to release their quarterly financials after the markets close.

2Q2024 FINANCIAL RESULTS
" SUWEN: Disclosed a quarterly net profit of TRY 75.7mn vs TRY 63.8mn y/y. The EBITDA also improved to TRY 376mn from TRY 263mn.

CORPORATE NEWS
" ALARK: Disclosed that it has decided not to continue the process of evaluating different strategic alternatives and partially or full sale of its subsidiary Alsim.
" ALCTL: Disclosed that it has received a 5yr contract with a local Telco company worth $93mnç
" BTCIM: Disclosed that it will increase its paid-in capoital by 3000% to TRY 5.58bn from TRY 180mn via a bonus issue.
" KCAER: Disclosed that it has received worth $50mn orders in the last 35 days, mostly from the MENA region.


 
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  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.