Morning Report (Trive Yatırım Menkul Değerler )

TENSION ESCALATES IN THE MIDDLE EAST
" The BIST100 continued its losing streak to 6 straight sessions, despite a positive start to the day, retreating by a further 0.39% to 10,692, with a turnover of TRY 90.3bn, due to the acceleration in the risk-off towards the end of the session.
" The Banks anchored the BIST lower, falling by 2.61%, due to the pessimistic earnings expectations, and the REITs also fell by 1.81%, whereas the Service and Mining stocks managed to diverge positively, and the Industrial rose slightly.
" BIMAS-ALARK and TOASO were yesterday's biggest blue-chip advancers, whereas GARAN-PETKM and EKGYO were the most sold. Please recall that ahead of tonight's FOMC meeting, we had advised our readers to keep an eye on GOLD and thus the GOLD-backed commodity stocks such as KOZAL and KOZAA.
" The TRY is currently trading weaker against the USD at 33.12, and 35.85 against the Euro, while the DXY has relaxed to 104.42, as of print. The 2yr Bond rates rose by 5bps to 42.28%, while the 10yr Bond rates closed flat at 28.21%.
" Parallel to the escalation in the Middle East, due to both the killing of Hamas leader Ismail Haniyeh in Iran by an Israeli airstrike, as well as the airstrike in southern Beirut, aimed at a top Hezbollah leader, Brent is trading higher this morning at $79.42, and GOLD has also risen to $2420.
" The Bank of Japan increased its policy rate to 0.25% from 0.10% this morning.
" JPMorgan stated that it sees the CBRT cutting interest rates in either November or October.

AGENDA

" The Trade Balance and Foreign Tourist Arrivals will be disclosed on the local side, while the FOMC policy meeting, though no changes are expected in the interest rates this month, guidance as to when the Fed may pull the trigger, will be carefully monitored, as well as the ADP, the PMI and the June Construction starts, and the Eurozone will disclose its Inflation figures.
" Please note that OTKAR and TTRAK are expected to release their quarterly earnings after the markets close.

2Q2024 FINANCIAL RESULTS
" GARAN: Disclosed a net profit of TRY 22.52bn, 14% higher than the market expectation of TRY 19.2bn. The Bank maintained its 2024 Guidance.
" YKBNK: Disclosed a net profit of TRY 7.10bn. NII was TRY 7.14bn, Fees and Commission came in at TRY 18.14bn. The Bank sees its NIM at over 4.5%.
" ARCLK: Disclosed a net loss of TRY 432.3mn vs the expected TRY 181mn. Net profit of TRY 1.61bn y/y, due to fall in domestic sales. The Company reduced its EBITDA margin to 6.5% from 8%.
" ANSGR: Disclosed a profit of TRY 2.57bn vs TRY 3.03bn y/y.

 
 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.