Mornıng Report (Trive Yatırım Menkul Değerler )

• The BIST100 played catch-up yesterday, after being absent from the global rally due to the long Eid break, closing the day 2.57% higher at 10.740, with a turnover of TRY 92.4bn, led by the Banks and followed by the Industrial and Conglomerates.
• The Banks soared by 3.62%, while the Industrial and Conglomerates both closed the day 2.35% higher, and the Telcos were yesterday’s highest gainers, whereas the Mining stocks lagged the general risk-on mode, edging just a mere 1% higher, due to caution regarding premature rate hikes in light of inflation from the Central Banks.
• GARAN-TCELL and AKBNK were yesterday’s biggest movers among the BIST30 stocks, whereas ALARK-AKSEN and HEKTS closed in the negative territory.
• As of print, the TRY is trading flat against the USD at 32.86 but recall that yesterday at around this time it was at 32.58 levels but is trading a tad weaker against the Euro at 35.23, compared to 35 level just 24 hours ago. The DXY is relatively calm at 105.55. On the Bonds’ side, both the 2yr and the 10yr rates soared by 43bps and 40bps to 43.41% and 28.97%, respectively.
• On the Commodity front, Brent has dropped to $84.86, and GOLD is flat at $2363.
• In May, the Central Gov’t Budget posted a surplus of TRY 219.4bn, thus curtailing the 5m2024 deficit to TRY 472bn.
• At his meeting with foreign investors in the UK, Treasury and Finance Minister, Mr. Mehmet Simsek, stated that the market was believing in the economic policies, and that the economy was on the verge of a strong disinflationary path.

AGENDA

• There are no major macro releases expected on the local side, while the USD will be releasing the PMI figures, alongside the Eurozone, as well as the Existing Home Sales numbers.

FINANCIAL RESULTS

• GUBRF: 1Q24 net income was TRY -669.6mn vs TRY -593.7mn in 1Q23.
• VESTL: 1Q24 net income was TRY -216mn vs TRY 370mn in 1Q23.


CORPORATE NEWS

• AKBNK: Disclosed that it will establish a wholly owned technology company, AkTech Yazilim Teknojileri, with a capital of TRY 30mn.

 
 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.