Morning Report (Trive Yatırım Menkul Değerler)

ASIAN MARKETS SIGNALLING ANOTHER RED DAY IN THE MARKETS

" The BIST100 breathed a sigh of relief that one of the most stressful weeks came to an end, closing the week on a loss of 3.01% at 10,473, but with a low trading volume of TRY 82.64bn, due to the escalation of tension in the Middle East.
" The Banks and Conglomerates pulled the gauge lower, falling by 3.95% and 3.14%, respectively, with only the Mining shares managing to shield themselves from the harsh selloffs. We also saw the food companies diverge positively from their peers.
" As such, only KOZAL and OYAKC managed a positive closing among the BIST30 stocks, whereas KONTR-TOASO and SAHOL were the most sold. TOASO was hammered by investors due to its quarterly net loss financials.
" For the week, the BIST100 and BIST30 closed 3.84% and 3.86% lower, due to the 5.06% losses in the Conglomerates, and 5.10% losses in the REITs, whereas the Banks fell by 3.70%, and only the Mining stocks managed to diverge positively from their peers, closing the week 3.65% higher, thanks to the rise in GOLD prices on the back of Powell's post-FOMC speech.
" The TRY depreciated against both the USD and the Euro by 0.79% and 1.18%, respectively, while the 2yr and 10yr Bond rates closed by 0.33% and 1.28% lower at 41.97% and 27.70%, respectively.
" On the Commodities' side, Brent fell by 3% due to the week global PMI figures, sparking recession concerns, whereas GOLD rose by 2.33% higher amid heightened expectations of a rate cut by the FOMC at its next meeting in September.
" As of print, the TRY is trading weaker against both the USD and the Euro at 33.27and 36.38, respectively, while the DXY has fallen even further to 102.75.
" Brent is also lower this morning at $76.33, while GOLD at slightly higher at $2448.
" On Friday, the US Non-Farming Payroll figures came in much fewer than the expected 175k at 114k in July, thus stoking recession worries, and igniting sell-offs at the global markets.
" According to Official Gazette, Türkiye and Ukraine signed an agreement in which Turkish construction companies will facilitate in the rebuilding of Ukraine after the war with Russia ends. We deem this news would be most beneficial for ENKAI.
" Today, THYAO and TUPRS are expected to release their financials after the market closes.

AGENDA

" The local weekly agenda will kick-off with the July Inflation figures (CPIe: m/m: +3.42% vs + prev.: 1.64% y/y: +62% vs 71.60% and Core: +60% vs prev.: 71.41% ), followed by the Effective Exchange Rate; Cash Budget Balance; CBRT Inflation Report Presentation, Net Change in Non-Resident STOCK/BOND Holdings, and ending with the Industrial Production.
" On the International side, the US ISM-PMI figures, Foreign Trade- and Wholesale figures will be released.


 
 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.