Mornıng Report (Trive Yatırım Menkul Değerler )

• The BIST100 turned on the “risk-on” button, thanks to President Erdogan’s condemning recent media reports regarding the central bank chief, as efforts to spread rumours meant to undermine economic progress, thus closing the day 1.77% higher at 8091, after peaking at 8150, and with a turnover of TRY 89.3bn.
• The Banks quickly pared their previous day’s losses, rising 4.61% higher, as it appears investors perceived the discount as a good entry level, whereas the gains among the other sectors were uniform at a little over 1%. The European markets also had a joyous trading day; the Stoxx 600 closed 1.15% higher thanks to the surge in the technology stock, and the rise in the PMI indicating an uptick in the business activity, albeit less than the 50 threshold, and ahead of today’s critical ECB meeting.
• In reverse of the previous day’s Laggards list, AKBNK-YKBNK and ISCTR were yesterday’s most bought blue-chips, followed by ODAS, and while there were no stocks in the red, GUBRF-EREGL and HEKTS lagged the gains among their peers.
• Speaking of laggards, HALKB shares also lagged its peers yesterday, and the most compelling reason appears to be the UK’s inclusion of Türkiye in the High Risk Third Countries category regarding Money Laundering, however, we may see the Bank try to pare yesterday’s lag and will watch how the latest developments from the US will reflect onto ASELS shares.
• As of print, the TRY is trading weaker against the USD at 30.26, while flat against the Euro at 32.91, while the DXY has risen to 103.34. The 2yr Bond rates rose by 18bps to 42.87%, whereas the 10yr continued to fall, yesterday by a further 20bps to 27.07%.
• On the Commodity front, Brent has leaped over the $80 level, currently hovering around there right now, and Ounce GOLD is flat at $2016.
• According to media reports, US President Joe Biden, has sent a letter to the 4 congressional leaders to approve the F-16 sale to Turkey “without delay.”
• WHITEGOODS: The White Goods Manufacturers Association disclosed that WG’s exports fell by 10% in 2023, whereas domestic sales rose by 14% y/y.
AGENDA:
• Today will be quite an eventful day regarding data releases, as both the MPC and the ECB will be disclosing their policy rate decision, as market participants expect a further 250bps increase from the CBRT to the policy rate to 45%, and while the ECB is set to leave interest rates unchanged, President Lagarde’s post decision conference will be key as to when the rate cuts will start-at Davos, she hinted to Summer.
• The Capacity Utilization Rate and Real Sector Confidence Level will also be disclosed in Türkiye, while the US will release its 4Q24 GDP Growth Rate, as well as the Weekly Jobless Claims numbers.

CORPORATE:
• BANVT: Disclosed that the Competition Board has opened an investigation dated 19 January 2024, an investigation against certain entities including our Company has been filed in order to determine whether the entities operating in the white meat industry have violated Article 4 of the Law No. 4054 on the Protection of Competition, and a statement of defense has been requested from our Company

 
 Trive Yatırım Menkul Değerler A.Ş.
  https://www.trive.com.tr/

***
                        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.