Morning Report (Trive Yatırım Menkul Değerler )

ALL EYES THIS WEEK ON FED
" Despite a negative opening on Friday, the BIST went on full risk-on mode in the second session, thus entering the weekend on a positive mood with rise on 1.73% to close at 9685, and with a turnover of TRY 79.8bn, led by the buying appetite in the Industrial and Aviation stocks, with the Mining stocks being the most bought, while the Banks lagged the general rally, closing fairly flat.
" As such, HEKTS, thanks to its capital increase, was the most bought blue-chip, followed by KOZAL and SASA shares, while TCELL, due its underperforming financial result, was the most sold, followed by YKBNK and AKBNK shares.
" For the week, the BIST100 fell by 0.88% and the BIST30 by 0.69% due to the rising inflation concerns, as well as stunted growth expectations, with the Banks and Conglomerates falling by 3.13% and 2.27%, respectively, while the Mining stocks rose by 0.66% due to the rise in GOLD prices and expectations of a rate cut this week by the FOMC, albeit perhaps less aggressively than expected, and the Aviation stocks rose by 1.24%, due to the positive passenger numbers, as well as the fall in fuel prices.
" The TRY strengthened by 0.10% against the USD, and by 0.39% against the Euro. The 2yr Bond rates will start the new week from 40.60%, after falling slightly by 0.42%, and the 10-year rates will start from 28.78, after a slight retreat of 0.07%.
" Brent pared some of last week's losses, and closed 0.46%, while GOLD closed over 3% last week.
" As of print, the TRY is trading flat against the USD at 33.97, but weaker against the Euro at 37.70, while the DXY has retreated below the 100 level to 100.88.
" On the commodity front, Brent has retreated to $71.57, while ahead of this week's critical FOMC meeting, ounce GOLD is higher at $2589, continuing its 3% gains from last week.
" This week will be the week of the Central Banks, as besides our own local CBRT, the Fed-BOE and BOJ will also be releasing their policy rate decisions.

AGENDA

" On the local front this week, the Central Government Budget Balance will be released, followed by the Home Sales Figures, CBRT One-week policy rate decision, where the expectation is for the policy rate to remain unchanged at 50%, as well as the Foreigners' net STOCK/BOND positions.
" On the international scene, the US IP figures-Capacity Utilization Rate-Building Permits, Weekly Jobless Claims, and of course, the FOMC meeting will be carefully followed as to whether the Fed will cut the interest rates by 25bps or 50bps on Wednesday.
" Meanwhile, the Eurozone will be releasing its Foreign Trade-Inflation and Consumer Confidence Levels, while the BOJ and BOE will also be releasing their policy rate decisions this week.
" TTKOM is expected to release its financial results after the markets close today.
2Q2024 FINANCIAL RESULTS
" GESAN: Disclosed a net profit of TRY 513mn vs TRY 611mn y/y.
" ORGE: Disclosed a net profit of TRY 76mn vs TRY 35mn y/y.
" SMART: Disclosed a net profit of TRY 16.2mn vs net loss of TRY 7.3mn y/y.

CORPORATE
" BIOEN: Disclosed that a non-binding Memorandum of Understanding ("MoU") and term sheet was signed on 12.09.2024 between Biotrend İleri Dönüşüm ve Yenilenebilir Enerji Teknolojileri Sanayi Anonim Şirketi which is the subsidiary of our Company ("Biotrend Upcycle), Üstay Yapı Taahhüt ve Ticaret A.Ş. ("Üstay Yapı") and Doğ-Yap İnşaat Turizm Enerji Üretim Sanayi ve Ticaret A.Ş. ("Doğ-Yap") regarding the Honeywell UpCycle facility.
" EBEBK: Disclosed that a rent agreement was signed to open the first store in London, England. The store is planned to open in the first quarter of 2025.


 
 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.