Mornıng Report(Trive Yatırım Menkul Değerler )

• The BIST100 closed yesterday 0.62% lower at 10.797, accompanied with a turnover of TRY 100.1bn, due to the 3.17% sales in the Banks, after their recent surge also made them too expensive, thus diverting investors into other sectors. However, the European markets were also in the red yesterday.
• However, the Transportation stocks managed to rise by 2%, and the Mining stocks also had a positive closing, followed by the Service stocks. The REITs also faced profit-takings of 0.27%, after their recent gains, coupled with speculations that the tax exemption on REITs may be cancelled.
• TAVHL-PGSUS and KOZAA were yesterday’s most bought BIST30 stocks, as opposed to YKBNK-AKBNK and FROTO shares, bearing the burden from TOASO on the back of BYD’s production investment in Türkiye.
• As of print, the TRY is trading weaker against the USD at 32.92, and a tad weaker against the Euro at 35.61, while the DXY is slightly lower at 105.10. The 2yr and 10yr Bond rates both rose by 36bps and 25bps to close at 40.13% and 27.52%, respectively.
• On the Commodity front, Brent has dropped to $84, whereas GOLD is slightly higher at $2369.
• At his testimony before Congress yesterday, Fed Chair Jerome Powell expressed concern that holding interest rates too high for too long could jeopardize economic growth, stating “Reducing policy restraint too late or too little could unduly weaken economic activity and employment. Chair Powell also emphasized that “More good data would strengthen our confidence that inflation is moving sustainability toward 2%.”
• Meanwhile, Treasury Secretary Janet Yellen, said that while inflation has come down significantly since hitting a peak in 2022, housing prices may take longer to follow suit. Inflated housing costs have made it harder for many to keep up with rising rent or mortgage payments, but said she expects inflation to continue falling.
• HSBC increased its 2024 growth rate for Türkiye to 3.8% from 3.1%, while maintaining it at 3.6% for 2025, and lowered its inflation outlook to 44.6% from 48% for 2024, and to 27.7% from 29% for 2025.

AGENDA

• On the local front, The Unemployment Rate-Industrial Production will be released, while across the pond, the Wholesale figures will be disclosed, and Fed Chairman, Jerome Powell, will be testifying before the Senate today.

CORPORATE NEWS

• KOZAL: Disclosed a loss of TRY 182mn in 1Q24 vs TRY -363mn y/y.
• PGSUS: Disclosed that its monthly passenger count rose by 15% to 3.27mn from 2.84% y/y, and increasing by 23% in 1H2024 to 17.43mn from 14.14mn. Domestic passenger count rose by 21% on annual basis to 1.2mn from 0.99mn, and by 25% in 1H2024. International domestic passenger count rose by 12% annually to 2.07mn from 1.84mn, and by 22% to 10.72mn from 8.78mn in 1H2024.
• THYAO: Disclosed that for June 2024, total number of passengers carried increased by 1% to 7.8 million, compared to 7.7 million passengers in June 2023, and international passenger carried increased by 11.3% to 2.6 million from 2.4 million for the same period of 2023. L/F (Load Factor) was 82.3% in June 2024, 1.3 points lower than the same period of 2023. In the period of June 2024, L/F in international flights was 81.7% while L/F in domestic flights was 87.5%. ASK (Available Seat Kilometer) increased by 7.4% to 22 billion during the period of June 2024 from 20.5 billion for the same period of 2023. During the period of January - June 2024, total number of passengers carried increased by 4.8% to 40.6 million, compared to 38.7 million passengers in the same period of 2023. During the period of January - June 2024, international passenger carried increased by 7.8% to 15.2 million from 14.1 million in the same period of 2023.


 
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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.