• The BIST100 closed the short week on Friday, with a gain of 0.29% at 10,771, and with a turnover of TRY 97.4bn, but interchanging between red and green quite frequently.
• The Banks spearheaded the gains, rising by 1.83%, along with the Energy and REITs, whereas the Conglomerates closed flat, and the Industrials were in the red.
• ODAS-AKBNK and KOZAL were Friday’s biggest movers, whereas GUBRF-EREGL and TCELL were the most sold.
• As of print, the TRY is trading flat against the USD at 32.85, but weaker against the Euro at 35.17, while the DXY is calm at 105.79. The 2yr and 10yr will open the new week from the 42.91% and 28.78%, levels respectively, falling by 50bps and 19bps, respectively on Friday.
• On the Commodity front, Brent is trading flat at $84.35, and GOLD is slightly higher this morning at $2324.
• Opposition Party Leader Ozgur Ozel and his economic advisor will meet today with the Minister of Finance and Treasury, Mr. Mehmet Simsek, at 08:00GMT. On the agenda will be new taxes-minimum wage-increase in the payments to retirees, as well as inflation.
• Also on the agenda this week, investors will seek clarity on the much speculated “Tax Package,” the final version is expected to be completed today at the AKP Central Executive Committee meeting. According to the Ekonomim website, tax rise on feedstocks and fertilizer will be removed, thus possible potential for GUBRF.
• On the US side, President Biden and Donald Trump will face-off on a live televised debate on Thursday, June 27th.
AGENDA
• The local macro agenda will kick-off today with the Real Sector Confidence and Capacity Utilization Rate, followed by the House Price Index-Foreign Tourist Arrivals-Net Change in Foreign STOCK/BOND Holdings-the Economic Confidence Level-MPC One-week Repo Rate (expected to stay unchanged at 50%) and Trade Balance Figures. The potential removal from the FATF Grey list may be decided on either the 27th or 28th (Thursday/Friday), thus a potential for high volatility.
• On the international front, the US will be following the Conference Board Consumer Confidence Level-New Home Sales-GDP Growth Rate-Durable Goods Orders, and Michigan Consumer Confidence Levels.
• The Eurozone will be disclosing the Consumer Confidence Level-Real Sector and Economic Confidence Level.
FINANCIAL RESULTS
• DESA: 1Q24 net income was TRY 17.5mn vs TRY -165mn in 1Q23.
• ODAS: 1Q24 net income was TRY 230mn vs TRY 188mn in 1Q23.
• YATAS: 1Q24 net income was TRY 72mn vs TRY 492mn in 1Q23.
CORPORATE NEWS
• ARCLK/VESTL: According to media reports, the takeover of Spanish appliance company Teka by the Chinese Midea, may cause for Teka to lose orders in Europe, thus creating an opportunity for the Turkish Whitegood producers to fill the void.
• TAVHL: Disclosed that it submitted an offer for The Operation and Maintenance Tender for Kuwait International Airport Terminal 2.
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.
Mornıng Report (Trive Yatırım Menkul Değerler )
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