Mornıng Report (Trive Yatırım Menkul Değerler )

• The BIST opened the new week on a hungry appetite, rising by 1.85% to 8107, and with a turnover of TRY 101bn, thanks especially to Goldman Sach’s and Bank of America’s pro-Banking report-that lifted the sector nearly 6% higher, far and beyond the gains of its peers.
• Thus, AKBNK-YKBNK-GARAN and ISCTR ranked among the top 4 BIST30 stocks, followed by SASA-EKGYO and TUPRS- among the non-banks, and while there were no BIST30 stocks in the red, PGSUS-THYAO and FROTO’s gains were peanuts compared to the general index.
• As of yesterday’s close, the TRY is trading a tad weaker against the USD at 28.93, but weaker against the Euro is at 31.69, while the DXY is lower at 103.18. On the Bonds’ side, both the 2yr and 10yr yields retreated by 51bps and 14bps to 40.84% and 28.35%, respectively. The 5yr CDS rates are trading flat at 339.
• Brent is trading slightly lower at $79.77, and ounce and gram GOLD are a tad higher at $2015 and TRY 1874, respectively.
• Yesterday, ECB President Christine Lagarde stated that there’s evidence of softening in the region’s jobs market, which officials are watching to assess the impact of monetary tightening. She added, “Despite the slowdown in activity, the labor market remains resilient overall, although there are some signs that job growth may lose momentum toward the end of the year.” She also emphasized that they cannot be complacent in the fight against inflation and were determined to ensure the timely return of inflation to 2%. Lagarde also admitted that the economy will likely remain weak for the rest of the year.
• Yesterday, Turkish VP Cevdet Yilmaz stated that the FX-Protected Savings program will likely remain without causing a burden on the economy.
AGENDA:
• There are no major macro releases expected in the local front, besides the meeting of the Economic Coordination team.
• The US will announce the Conference Board Confidence Level, and ECB President Christine Lagarde is expected to speak today. Please note that the NATO meeting will also kick-off today.
CORPORATE:
• OYAC: Disclosed that Oyak, which owns indirectly 60% of Oyak Denizli Cimento, with a total value of €1.3bn, has signed a preliminary MOU to transfer 20% control to Taiwan Cement Corporation, thus showing TCC’s intention to increase its share in OYAKC.
• ALFAS: Disclosed that Alfa Kazan sold around 11mn shares at TRY 94.98 to an institutional buyer via private placement, thus the shares of Alfa Kazan declined to 77% from 80% after the sale.
• ASTOR: Disclosed that it signed a deal in Iraq worth $10.2mn.
• CWENE: Disclosed that it signed an agreement with 19 sales distributors worth TRY 1.2bn for 2024.

 
 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.