Morning Report (Trive Yatırım Menkul Değerler)

MARKETS OPEN WEEK ON SOUR NOTE
" In contrast to the trading type observed on Friday, the BIST100 started to the day on a positive note but suffered a sharp retreat in the second part of the day, parallel to the negative mode in the global markets, and thus closed the first day of the week on a blushing loss of 1.12% to retreat to 9577, but with a low turnover of just TRY 64.6bn.
" The Transportation and Banks led the losses at the BIST, whereas the Mining-REITs and Service stocks managed to diverge positive from its peers.
" Like the REITs, we also expect the CEMENT stocks, followed by the Iron & Steel stocks, especially EREGL, to outperform its peers when the rate-cut cycle begins at home, which is most likely in October, due to the sticky inflation.
" On the BIST30 front-GUBRF-KOZAL and GARAN were the most bought stocks, whereas BRSAN-ENKAI and TCELL, were the most sold.
" As of print, the TRY is trading flat against both the USD and the Euro at 34 and 37.86 respectively, while the DXY has retreated slightly to 100.75.
" On the commodity front, Brent is trading slightly higher this morning at $72.60, while GOLD seems to be taking a short breather, lower this morning at $2575.
" Goldman Sachs disclosed yesterday that ounce GOLD prices could see $2700 at the beginning of 2025.
" In August, the budget and primary balance posed a deficit of TRY 129.6bn and TRY 32.5bn, respectively.
" Turkish Energy Minister stated that sanctions towards nuclear energy should be lifted.
" Deutsche Bank disclosed that it expects the rally in the Turkish bonds to continue in the upcoming months.

AGENDA

" The Home Sale Figures and Price Index will be released on the local front, while on the International front, the US Retail Sales-Industrial Production and Capacity Utilization Rate will be released, while Germany will disclose its Zew Index.
" MAVI is expected to release its quarterly financials today after the markets close.

2Q2024 FINANCIAL RESULTS
" KCAER: Disclosed a quarterly net income of TRY 39.9mn vs TRY 522.7mn y/y.
" TTKOM: Released a quarterly net income of TRY 1.42bn vs the market expectation of TRY 1.73bn, and net loss of TRY 3.62bn y/y, thus its 1H24 net income rose to TRY 2.55bn.

CORPORATE
" AGESA: Disclosed that its gross premiums for Jan.-Aug rose by 99% to TRY 9bn.
" ENERY: Disclosed that it will hence give more importance to Gold mining.
" ISGYO: Disclosed that it has been decided to authorize the General Directorate of the Company to conduct negotiations regarding the purchase offers from potential buyers and to collect purchase offers within the scope of the sale of parcel 110 where Marmarapark Shopping Mall is located and adjacent parcels 102 and 103 and Maslak Office Building located in Sarıyer district, Istanbul.
" TBORG: Disclosed that International Beer Breweries sold 1.18mn shares at TRY 121.45, and that its share in the company fell to 94.98%.

 
 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.