Morning Report (Trive Yatırım Menkul Değerler )

PLAYING CATCH-UP

The BIST opened the new week on the right footing, after diverging negatively from its peers last week, and thanks to the last-minute burst of energy, closing above the psychological 10k barrier on a gain of 2.36%, albeit low turnover of TRY 80.4bn.
The Banks led the offensive, rising by 4%, and followed by the 2.09% gains in the Energy stocks, while the remaining sectors closed relatively the same, with the Mining shares lagging their peers with a mere gain of 1.13%. The Energy shares’ surge can be explained by The Energy Market Regulatory Authority’s (EMRA) introduction of a new regulation in the Electricity Market License Regulation, requiring approval for share transfers.
KONTR-PETKM and AKBNK were the most bought blue-chips, while only ALARK shares closed in the red, followed by the slight positive closings in KOZAL and OYAKC shares. BIMAS also rebounded from Friday’s negative closing, rising by over 3% yesterday.
As of print, the TRY is trading flat against the USD at 33.76, but slightly stronger against the Euro at 37,40, after the Euro’s steep surge, while the DXY is slightly higher this morning at 101.97.
On the Bonds’ front, the 2yr yields were flat at 42.31%, while the 10yr yields rose by 6bps to 28.75%.
The downwards spiral on Brent from last week is continuing this morning as well, currently trading at $76.72, while GOLD is flat at $2503.


AGENDA



The CBRT Policy rate will be disclosed today, and as the market expects the policy rate to remain unchanged at 50%, all eyes will be on the Press Release for any clues regarding possible rate cuts or loosening in the monetary policy. While the Industrials are strongly advocating for rate cuts due to the overhang created by the inflationary accounting, causing for a BIST-listed company to even declare Bankruptcy yesterday, thus setting-off alarms for a possible domino effect, economists are warning that a haste rate cut may once again spur inflationary pressures, and thus are cautioning against rate cuts.
On the international side, the Eurozone will release its July CPI figures, while Germany will disclose its PPI figures today.
MGROS and TKNSA ae expected to release their financial earnings today after the markets close.


2Q2024 FINANCIAL RESULTS

CCOLA: Disclosed a quarterly net profit of TRY 5.41bn, thus slightly higher than the TRY 5.2bn market expectation, while the 6mth net profits rose to TRY 8.35bn from TRY 7.94bn y/y.


CORPORATE

KOZAL/KOZAA/IPEKE: It was disclosed by the Presidential decree that the shares will be transferred to the Sovereign Wealth Fund.
ANHYT: Disclosed that its commissions rose by 82% for Jan.-July 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.