Morning report (Trive Yatırım Menkul Değerler )

• The BIST100 closed by another 0.10% lower yesterday to 8024, but on a falling turnover of TRY 75.5bn, as investors are opting to wait on the side-lines until the recent escalation in the Middle East/Red Sea tension subsides-taking a new dimension yesterday with Iran’s attack on Iraq-Syria and Pakistan. Despite this worrisome escalation, the losses appear to be less than what it potentially could be.
• The Banks diverged positively from their peers, by rising 0.42% on average, after its recent sell-offs, whereas the Industrials pulled back the benchmark, and the REITs continued to steamroll over its competitors, by adding another 2.18% gain.
• EKGYO-KOZAA and ISCTR led the gains among the blue-chips, whereas FROTO-SASA and GUBRF were the most sold.
• As of print, the TRY is trading flat against the USD at 30.14, but weaker against the Euro at 32.84, while the DXY relaxed to 103.30, after yesterday’s hawkish statements from Christopher Waller. The 2yr and 10yr Bond Rates rose by 21bps and 17bps to 41.92% and 27.31%, respectively.
• On the Commodity front, Brent has once again turned its nose upwards, currently at $77.78, and Ounce and Gram GOLD are flat at $2008 and TRY 1946, respectively.
• The UK inflation rate rose 4% last month compared with a year ago, up from a rate of 3.9% in November, its first increase since February.
• Türkiye housing prices showed their slowest monthly increase of 1.9%, and 82.8% on an annual basis, but adjusting for inflation, rising by 12.4%.
• The US Beige Book revealed yesterday resilient consumer spending and cooling labour market, while majority of districts saw little or no change in activity, and that many firms indicated “increased consumer price sensitivity.”
• Yesterday at Davos, ECB President Lagarde hinted at potential rate cuts by summer, but stressed that the ECB remains data-focused.
• According to media reports, Pimco stated that Türkiye was on its path to getting a “investment” grade rating.
AGENDA:
• The Net Change in Non-Resident STOCK/BOND holdings will be released on the local side, while on the US side, Building Permits, Weekly Jobless Claims, and the Philadelphia Fed Business Outlook will be released, while ECB President, Christine Lagarde is expected to speak today, at the Davos summit, and the ECB minutes will also be released today.
CORPORATE:
• AGESA: Disclosed its gross premiums for 2023 was TRY 7,483,888,066.

 
 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.