Mornıng Report (Trive Yatırım Menkul Değerler )

US CPI BREATHES LIFE BACK INTO BIST
 
The BIST100 came back to life, alongside its peers in the late afternoon yesterday, as the lower-than expected US
CPI figures triggered a buying frenzy in the global equity markets, parallel to the noticeable drop in the 10yr US
Bond rates to 4.50%, and even below the 4.50 level after the local markets closed. As expected, trading prior to
the perhaps the most important CPI level disclosure, as it would greatly sway the FOMC future decisions, was
flat-cautious, and outright boring. Accordingly, the BIST closed 1.36% higher to 7671, but yet, on a low turnover
of just TRY 80bn.
The Mining stocks were the most positively affected stocks, rising over 2%, parallel to the rebound in GOLD
prices, and the Transportation and Industrial stocks also outperformed the benchmark. The Banks managed to
close slightly above the gauge, while the Conglomerate and Energy stocks lagged their peers.
EKGYO-PETKM and TUPRS topped the BIST30 advancers’ list, whereas ALARK-due to the shares registered to be
traded, AKSEN and HEKTS, were the most sold.
As of yesterday’s session closing numbers, the TRY is trading a tad weaker against the USD at 28.66, but weaker
against the Euro at 31.18, parallel to the retreat in the Dollar Index-which is currently lower at 104.10, after
having even seen the 103.987 figures. The 2yr Bond yields closed flat at 41.68%, whereas the 10yr rates fell by
400bps to 28.83%.
On the Commodity front, Brent has jumped slightly to $82. 67, and ounce and gram GOLD are slightly higher at
1967 and TRY 1813, respectively.
The US CPI in October was unchanged, vs the +0.1% m/m estimate, and 3.2% on an annual basis, vs the 3.3%
estimate. According to the US Swap pricings, the FOMC is likely to cut rates by 50bps in July, a big catalyst in
yesterday’s buying appetite, resulting in a sharp drop in the 10yr rates.
The Turkish Parliament will meet tomorrow, November 16, regarding the inclusion of Sweden into the NATO.
The MSCI adjustments were made yesterday. Accordingly, while BRSAN-OYAKC and TTRAK were deleted, AKCNS[1]ANSGR-BTCM-BFREN- ECZYT, ENERY, IZENR, KLSER, KRDMA, KAYSE, KONYA, MIATK, PEKGY, POLTK, SDTTR,
TRGYO, TURSG, VERUS, YEOTK were added to the Global Small Cap listings.
 
AGENDA:
 
On the local front today, the Central Gov’t Budget Balance will be released, while our friends across the Pond will
be releasing the PPI, Retail Sales Figures and New York Fed Industrial Index. Japan will also be disclosing its 3Q23
Growth Rate and IP, China its IP and also Retail Sales, while the UK will release its CPI figures today.
 
CORPORATE:
 
BRLSM: Disclosed that a final contract worth 7.5 million dollars was signed between the company's subsidiary
Solar Santral Enerji and Dünya Göz Hospital for the turnkey installation of a Solar Power Plant (GES) with a
capacity of 9,199 kWe/11,797 kWp.
DOAS: Disclosed that a distributorship agreement was signed between the company and Wielton for the sales
and service of Wielton brand semi-trailers in Turkey, to be carried out by the company.
KCAER: Disclosed that it has received a $24.9mn steel order from the US, to be used mainly in the Energy sector.
The company added that its exports to the continent are at 53%.
MIATK: Disclosed that funds obtained from public offering were used as follows: 5.9 million TL for
reorganization, sales, and profitability improvement processes; 13.9 million TL for paying off bank debts; 1.4
million TL for office acquisition; and 34.0 million TL for working capital.
PRKME: Disclosed that following the cancellation of the 49-year electricity production license of the company's
subsidiary Konya Ilgın by EPDK, and the announcement of Konya Ilgın's appeal against the decision, it was
announced that the court's process of rejecting the appeal request is ongoing and the next hearing date has
been postponed to December 12

 
 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.