Morning Report (Trive Yatırım Menkul Değerler )

ESCALATING MIDDLE EAST TENSION SOURS MOOD
" The BIST100 started the week on a sour note, closing 1.45% lower at 10,733, but low turnover of TRY 87.4bn, due to the rising tension in the Middle East.
" The Transportation stocks led the selloffs, falling by 2.42%, followed by the 1.91% losses in the REITs and the 1.77% drop in the Conglomerates. Compared to their peers, the Banks fared better, falling by just 0.82%, perhaps in anticipation of their upcoming financial results, which kick-off yesterday with AKBNK, and will follow today with GARAN. The Mining stocks also managed to perform well, falling by just 0.11%, ahead of this week's critical US FOMC meeting.
" ENKAI-GARAN-and PETKM were yesterday's biggest gainers, whereas ARCLK saw profit-takings by falling over 4% after announcing its semi-conductor design phase for its home appliances and was followed by TOASO and ODAS.
" The TRY is currently trading flat against the USD at 33.06 and has also calmed back to 35.79 against the Euro, after a brief spike in the parity to 35.85, while the DXY is slightly higher this morning at 104.61. The 2yr and 10yr bond rates both rose by 12bps and 16bps to 42.23% and 28.22%, respectively.
" On the Commodity front, Brent is trading lower at $78.66, while GOLD is continuing its uptrend ahead of tomorrow's FOMC meeting at $2387.
" Fitch Rating disclosed yesterday that it expects 2 rate cuts from the Fed in 2024.

AGENDA

" On the local front today, the Summary Report from the CBRT policy meeting and Economic Confidence Level will be released, while on the international front, the Eurozone GDP Growth Rate-German CPI figures, and the US JOLTs and Conference Board Confidence Level will be released.
" Please note that GARAN-ARCLK and ANSGR are expected to release their quarterly financials after the session closes.

2Q2024 FINANCIAL RESULTS
" AKBNK: Disclosed a net profit of TRY 10.92bn vs TRY 20.31bn y/y vs TRY 13.18bn in 1Q24.
o The Bank also revised its 2024 Guidance. Accordingly, it expects TL Loan Growth rate to increase by around 40%, FX Loan Growth (USD) to be greater than 20%, NIM at around 3%, Net Fees and Commission growth at over 100%, Opex growth to be in the 70%'s, NP at around 2%, and the ROE in the mid to high 20%'s.

CORPORATE NEWS
" KCHOL: Disclosed that its 77% subsidiary AYGAZ's 20% holding in EYAS, will distribute TRY 4.4bn cash dividends.
" YEOTK: Disclosed that its wholly owned subsidiary, Reap Battery Technologies and one of the world's leading battery manufacturers, Great Power Group, will establish a new company with 51% owned by Reap A.S. and 49% shared by Great Power. Reap A.S. will be able to produce under its own brand "Reap Battery" and "Great Power" brand to be manufactured in the Turkish market. The new company will be able to sell the both brands products from both manufacture plants in Türkiye as well as in Europe, CIS countries, and African countries as of now.
" GLYHO: Disclosed that the number of calls at GPH`s ports in June 2024 was 32% higher than June 2023 level, while passenger movements at GPH ports in June 2024 standalone was 33% higher than June 2023 level. Average occupancy rate of the cruise ships visiting GPH's ports was 104% in May 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.