Morning Report (Trive Yatırım Menkul Değerler )

CHOPPY WATERS
" The BIST navigated through the choppy BIST waters, to close the day 0.17% higher at 9921, and with a turnover of TRY 84.8bn.
" The gains were spearheaded by the Banks and the Mining stocks, rising by 1.42% and 3.80%, respectively, while the Transportation stocks, perhaps fuelled by the media reports of the first M pox vaccine, which was later refuted, were the most sold stocks.
" The markets got a pleasant political boost after Türkiye received an invitation to attend a meeting of EU ministers in Brussels next week that may pave the way for improved ties with Türkiye and the EU.
" Accordingly, KOZAL-ENKAI and YKBNK were the most bought blue-chips, whereas TCELL-SASA and THYAO, were the most sold.
" As of print, the TRY is trading at 33.91 against the USD, and at 37.67 against the Euro, while the DXY is at 101.53.
" On the Bonds' front, both the 2yr and 10yr Bond yields fell by 12bps and 17bps to 42.13% and 28.36%, respectively.
" On the commodity front, Brent is trading at $76.45, and GOLD is at $2482.
" Last week, Foreign Investors were net SELLERs of $298mn EQUITIES, but net BUYERs of $1.4bn BONDS, highest purchase since July 5th, 2024.
" The Consumer Confidence Level increased to 76.4 from 75.9 in August.
" The Eurozone PMI figures got a boost from the Paris Olympics and rose to their highest level in 3 months to 51.2 in August from 50.2 in July.
" ECB Governing Council and Governor of the Central Bank of Latvia, Martins Kazaks, said yesterday that he is "very much open" to discussing a September rate cut.
" Goldman Sachs on Tuesday said it expected Brent crude prices to fall to $68 per barrel by late 2025 if China oil demand remains flat through end of next year, especially due to the shift from oil-powered vehicles to electrical and LNG vehicles, thus estimates a sharp slowdown in China oil demand year-over-year growth to 0.2 million barrels per day in the first half of 2024 and a year-over-year decline this summer.
" Today, Bank of Japan Governor Kazuo Ueda reaffimred his resolve to raise interest rates if inflation stayed on course to sustainably hit the 2%target, suggesting recent market volatility would not derail its long-term rate hike plan. He added that the financial markets remain unstable, and that Japan's short-term rates are low, and that they will go up to neutral level.

AGENDA

" On the local front today, Foreign Tourist Arrivals will be released, while Fed Chairman Jerome Powell will speak at Jackson Hole.
" AGHOL is expected to release its financials after the market closed today.

2Q2024 FINANCIAL RESULTS
" AYDEM: Disclosed a quarterly net income of TRY 2.25bn from TRY -1.21bn y/y. Accordingly, its 6-month net income rose to TRY 2.95bn compared to TRY143mn y/y.


CORPORATE
" TURGS: Disclosed that its Jan-July premium generation rose by 100% to TRY 28.4bn.

 
 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.