Morning Report (Trive Yatırım Menkul Değerler )

ALL EYES THIS WEEK ON FRIDAY'S MOODY'S PRICING
" The BIST100 went into the long weekend on a gain of 0.37% to close at 11,065, peaking at a new historic peak of 11,114, with a notable turnover of TRY 101.bn, led by the gains in the Banks and REITS, as well as the Mining stocks.
" The Banks and REITS rose by 0.87% and 1.10% respectively, while the Mining stocks were the most bought stocks, rising by 2.18%, whereas the Transportation stocks and Energy stocks were the most sold.
" GUBRF closed limit-up and was followed by ISCTR and KOZAL among the BIST30 gainers, while ASELS-the apparent ambiguity regarding the F-16 procurement could be an excuse for the overhang, followed by TUPRS and KRDMD were the most sold.
" As of print, the TRY is trading flat against the USD at 33.03, but stronger against the Euro at 36, while the DXY has risen to 104.34, as of Friday's closing numbers. The 2yr and 10yr Bond rates increased by 13bps and 4bps, respectively, to close Friday at 40.68% and 27.70%, respectively.
" On the Commodity front, Brent has receded to $83.95, and GOLD is also slightly lower this morning at $2428, amid cease-fire talks in the Middle East.
" The May Current Account Balance posted a deficit of $1.24bn vs the Bloomberg estimate of $-1.1bn, and the 12mth cumulative deficit rose to $25.19bn.
" Speaking yesterday at the Economic Club of Washington D.C., Fed Chairman Jerome Powell said that the central bank will not wait until inflation hits 2% to cut rates. "The implication of that is that if you wait until inflation gets all the way down to 2%, you've probably waited too long, because the tightening that you're doing, or the level of tightness that you have, is still having effects which will probably drive inflation below 2%...Instead, the Fed is looking for "greater confidence" that inflation will return to the 2% level", Powell said.

AGENDA

" The local agenda will kick-off with the Central Gov't Budget Balance and followed by the Housing Price Index and Home Sales figures, as well as Moody's Türkiye Sovereign Credit Rating on Friday, which currently stands at "B3" with a Positive outlook. The expectations are for the credit rating to be increased to B2, and the outlook to remain Positive, our in-house expectation is for the credit rating to be increased two notches to B1 with a Positive outlook.
" On the International side-the US will be releasing The New House Starts-Industrial Production-Retail Sales Figures-and the Fed Beige Book, while the ECB meeting will be held on Thursday, as well as the Industrial Production and Inflation, which will also be disclosed in Germany and Japan.
" The Chinese economy grew at an annual rate of 4.7% in the second quarter, thus much weaker than the expected 5.1% and last quarter's 5.3% growth rate, due to weak retail spending numbers.
CORPORATE NEWS

" AGESA: Disclosed that its total commission generation increased by 103% to TRY 117.8bn.
" OYAKC: Disclosed that following the share transfer transaction that took place on March 6, 2024, TCC OYAK Amsterdam Holdings B.V. was required to make a mandatory tender offer for the remaining shares. As such, the tender offer price for shares with a nominal value of 1 TL has been determined as TL 73.18. The Mandatory Tender Offer process will continue for 10 business days between July 16, 2024 and July 29, 2024


 
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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.