Morning Report (Trive Yatırım Menkul Değerler )

SHAKEN BUT NOT FALLEN
" The BIST100 managed a light green closing yesterday, at 10.899, seeing its peak at 11,024, and with a turnover of TRY 127.6bn.
" It was a seesaw trading session, as the Banks faced profit-takings after their recent surge, whereas the Industrials and REITs and Mining stocks, managed to drag the BIST across the positive zone.
" TOASO-GUBRF and ENKAI were yesterday's most bought blue-chips, whereas SAHOL-ISCTR and AKBNK were the most sold. YKBNK and KCHOL saw a slight loss of 0.47% and 0.76%, respectively.
" As of print, the TRY is trading a tad stronger against the USD at 32.20 and flat against the Euro at 34.86, while the DXY has retreated slightly to 104.86. The 2yr Bond rates fell by 4bps to 41.80%, whereas the 10yr rates rose by 21bps to 27.55%.
" On the commodity front, Brent is trading lower at $81.26, falling slightly more after yesterday's FOMC minutes, and GOLD has also retreated slightly to $2373.
" The Federal Reserve Minutes yesterday revealed that the "participants observed that while inflation had eased over the past year, in recent months there had been a lack of further progress toward the Committee's 2 percent objective." The minutes also showed "various participants mentioned a willingness to tighten the policy rate further should risks to inflation materialize in a way that such an action became appropriate."
" European Central Bank President Christine Lagarde has indicated that an interest-rate cut is probable next month, saying that she was confident inflation is under control.
" However, the same optimism of June rate cuts cannot be said for the UK, as the April inflation fell to 2.3% from last month's reading of 3.2%, its lowest level in 3 years, but lower than the expected 2.1% rate, as key core measure of prices barely dropped, prompting investors to pull bets on a Bank of England rate cut next month, and not a good sign for PM Rishi ahead of the July 4th elections.

AGENDA

" On the local front, the Monetary Policy Committee will be convening, but nothing exciting is expected, as the policy rate is expected to remain unchanged at 50%, however, the post speech by Governor Fatih Karahan and the CBRT's outlook and possible measures, will be carefully followed. The Consumer Confidence Level will also be released.
" On the international front, Europe and the US will be disclosing the PMI figures, and the USD will also be releasing New Home Sales and Consumer Confidence Level.

FINANCIAL RESULTS

" AYGAZ: Posted a 1Q24 net loss of TRY 4mn vs net profit y/y of TRY 443.69mn. Sales came in at TRY 15.79bn vs TRY 21.47bn y/y.
" THYAO: Released a 1Q24 net profit of TRY 6.93bn vs the Estimate TRY 7.918bn and TRY 4.42bn y/y. Net Sales rose to TRY 147.2bn from TRY 82.1bn.
" TUPRS: Released a 1Q24 net profit of TRY 415mn vs the Estimate of TRY 8.235bn. Net Sales rose slightly to TRY 165.47bn vs TRY 160.25bn y/y.

 
 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.