Morning Report (Trive Yatırım Menkul Değerler )

FULL STEAM AHEAD
" Despite a brief scare after the CBRT left the interest rates unchanged, but more importantly, spoke in a somewhat hawkish tone regarding inflation, and possible further tightening measures, the BIST100 managed to rally 1.85% higher at 10,681, with a turnover of TRY 88.1bn, peaking intraday at 10,716 level.
" The Banks spearheaded the BIST higher, thanks to its 3.36% surge, followed by the Conglomerates and the Industrials, but the Mining stocks were yesterday's biggest movers, thanks to KOZAA's sale of its subsidiary stake to its parent company for a premium.
" As such, KOZAA-YKBNK and KCHOL were yesterday's highest gainers among the BIST30, and while ENKAI was the only blue-chip, in the red, it was followed by BIMAS and PGSUS at the bottom 3 standings.
" As of print, the TRY is trading weaker against the USD, just below the 33 level, but just a tad weaker against the Euro the 35.28, while the DXY has risen to 106.10.
" The 2yr Bond rates fell by 20bps to 41.84%, while the 10yr rates fell by a modest 7bps to 28.58%.
" On the Commodity front, Brent has risen to $85.55, as of yesterday's session close, while GOLD is flat at $2323.
" Atlanta Fed President, Raphael Bostic, stated yesterday that one rate cut, most likely in Q4 will be likely amid signs inflation has resumed its decline. Bostic cited details within April and May inflation reports as "glimmers" of evidence that price changes are moving to the Fed's 2% goal, and said he sees risks to the labour market and inflation as becoming more balanced in recent weeks.
" Today, local investors will be watching to see if Türkiye gets removed from the FATF Grey List or not. The possibility that it does not, may ignite sell-offs, especially in the BIST30 stocks.
" The CBRT announced today that it has removed the leverage ratio-based liability for required reserves, a step that would reduce bank costs and provide relief to banks in response to the declining deposit interest rates.
" Please note that as of Monday, June 1st, DOAS will be added to the BIST30 Index, while ODAS will be removed, and AEFES-SOKM and TTRAK will be included in the BIST50, at the expense of ALFAS-CIMSA and KOZAA.
" Last week, Foreign Investors were net SELLERs of USD 158mn STOCKS but net BUYERS of USD 35mn BONDS.

AGENDA

" On the local front, the Trade Balance and Bloomberg June Turkey Economic Survey will be disclosed, while both local and foreign investors will be carefully following the US PCE figures, as well as well as Unemployment and the Michigan Consumer Confidence Level, while Germany will release its Unemployment Rate, and the UK will disclose its GDP Growth Rate and Current Account Balance.

CORPORATE NEWS

" SKBNK: Disclosed that the shares of Samruk-Kazyna LLP, representing 12.06% of its paid-in capital, was sold to the local Ilbak Holding company, the parent company of the new CNBC-e news finance channel, and Stroer Kentvizyon outdoor billboard marketing company.
" EKGYO: Disclosed that the agreement for Istanbul Arnavutköy Dursunköy 2nd Stage General Infrastructure, Construction Roads and Art Structures Work, which was tendered in accordance with the EKGYO and THYAO, and was signed on 28.05.2018, was signed with the Contractor SOYSAL Müh. İnş. A.Ş. on 27.06.2024. worth TRY 1.25bn + VAT.

 
 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.