Mornıng Report(Trive Yatırım Menkul Değerler )

• The BIST100 ended the week on a sour note, closing on a loss of 0.82% to 7913, but with a low turnover of just TRY 74.5bn, led by the heavy profit-takings in the Banks and Aviation stocks-the much better than expected US NFP Figures ignited the selling appetite, whereas EKGYO helped the REITs diverge positively from their peers due to falling local interest rates, and market speculations of the new pro-REIT initiations, though nothing official has been disclosed, besides the usual X number of houses, especially in Istanbul, that are at risk if a major earthquake was to occur.
• As such, EKGYO-TAVHL (thanks to its passenger disclosures) and TCELL were the most bought blue-chip stocks, while ALARK-HEKTS and KOZAL/KOZAA were the most sold-ALARK sold due to the registration by shareholders to make their shares tradeable.
• For the week, the BIST100 and BIST30 both fell by 1.40% and 1.74%, following their recent gains. While the Banks closed the week flat, the Industrial and Aviation stocks fell by over 2%, while the Mining stocks were the most sold, falling by 6.36%, whereas the REITs managed to stay above water, rising by 0.42%.
• The TRY weakened last week by a quarter percent against the greenback, but strengthened against the Euro by 0.87%, and both the 2yr and 10yr Bond Yields fell by 3.59% and 1.38% to end the week at 38.44% and 27.16%, respectively. The 5yr CDS rates will open the new week from the 335 level.
• On the Commodity front, Brent fell by nearly 4%, and both Ounce and Gram GOLD prices also faced profit-takings, falling by 3.22% and 2.96%, respectively.
• As of print, the TRY is trading flat against both the USD and the Euro at 28.98 and 31.20, respectively, while the DXY is slightly higher at 104.03.
• Brent seems to be trying to pare its recent losses, and is currently higher at $76.50, while Ounce and Gram GOLD are slightly lower below the $2000 ticker and TRY 1863, respectively.
• Bluebay Asset Management EM Senior Strategist, Timothy Ash stated on Sunday at the TRT World Forum 2023, that positive developments in the Turkish economy noting "2024 could be a truly exciting year for Türkiye," adding that international investors are eager to return to Türkiye predicting that the lira would stabilize next year, and the deflation process would begin.
• Fitch Ratings stated that it expects Türkiye’s inflation to be 65% this year, but drop to 38% in 2024, while expecting GDP growth to be 4.1% and 2.5% for 2023 and 2024, respectively.
• Moody’s is expected to release its credit rating evaluation on Turkey on Friday, 15 December, with the market banking on at least an outlook upgrade to the “B3” “Stable” rating. However, a not so far rating upgrade speculation, may make the green bars, especially on the Banking stocks, greener heading into Friday.
• Finance Minister Mehmet Simsek and CBRT Governor Erkan, will be travelling to Spain this week on the 14th and 15th.
• The Minimum wage negotiations will start today, as well.
AGENDA:
• The local agenda is quite heavy today, kicking-off with the Current Account Balance (BBGe +$0.51bn); Unemployment, and Industrial Production, and followed later in the week with the Retail Trade figures, Net Change in Non-Resident STOCK/BOND Holdings, Home Sales Figures, Expected 12th Month Inflation Survey (Prev: 43.94%) and the Central Gov’t Budget Balance.
• Things are a little more exciting on the US front, due to the release of the Tuesday’s Inflation Figures, a major beacon ahead of Wednesday’s FOMC meeting, as well as the PMI, Capacity Utilization Rate, and Industrial Production, while both the ECB and BOE will disclose their policy rates as well.
CORPORATE:
• PGSUS: Disclosed it is considering a new aircraft purchase, citing strong domestic demand in Turkey, especially after the construction of the new runway at Sabiha Gokcen airport, but added that any new aircraft will be scheduled to arrive after 2029. The CEO also added that airline’s current plans prioritize new destinations in the Middle East, North Africa and the Baltic states, and that next year’s additions will include cities in Croatia, Portugal, Moldova, and Bulgaria. The company is also looking to add more frequency to existing routes in Europe.
• ASTOR: Disclosed on Friday that it signed a letter of intent with the Chinese Sieyuan company to manufacture energy storage systems under the Astor brand.


 
 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.