Morning Report(Trive Yatırım Menkul Değerler )

FULL THRUST AHEAD…BUT WILL INVESTORS FACE THE WRATH OF WEDNESDAY?
" The BIST100 marched a further 1.45% higher yesterday to 10,895, and peaking at 11,088, with a massive turnover of TRY 215.5bn, thanks the buoyant appetite in the Banks, followed by the Conglomerates, whereas the remaining sectors stood side-line and watched.
" The Banks soared by 6.05%, led by the limit-up closing in YKBNK shares on the back of media reports regarding First Abu Dhabi Bank's potential acquisition of the Bank from KCHOL, which triggered a sector-wide buying appetite, alongside the Conglomerates, that ended the day 2.43% higher, thanks to KCHOL's 7.30% rise. The Industrials fell by 0.71%, and the Transportation stocks lost 0.32%, while the Energy stocks fell by over 1.40%. Thus, besides the Banks and the Conglomerates, not everything was rosy at the BIST.
" As most, if not all brokerage houses are singing in harmony together, expectations are for the buying momentum to continue primarily in the Banks and the Conglomerates, with the catalysts being: the expected influx of foreign hedge funds, continued ratings upgrades, relaxing of the FX swap restrictions, and removal of Türkiye from the grey list. Period.
" YKBNK-KCHOL and ISCTR were yesterday's most bought BIST30 stocks, whereas ODAS-ALARK and SASA were the most sold. It appears that ALARK's lithium battery agreement either failed to impress investors, or most like the adage, it was victim of "Buy the Rumour, Sell the News" effect.
" As of print, the TRY is trading flat against both the USD and the Euro at 32.20 at 34.95, and the DXY is also calm at 104.64.
" On the commodity front, Brent is trading lower at $82.11, ahead of tonight's FOMC minutes, and GOLD has dropped to 2416.
" Today, we may see the BIST end on a negative note, as today is the last day for investors to close their credit positions as not to bear the cost of funding over the weekend, and due to the upcoming Eid break in the middle of June, we may also see the BIST pause and catch its breather after the recent whirlwind performance.
" In a meeting with high-ranking bank officials, U.S. Treasury Secretary Janet Yellen urged German bank executives on Tuesday to step up efforts to comply with sanctions against Russia and shut down efforts to circumvent them to avoid potential penalties themselves that would cut off dollar access. Yellen said the most concerning Russian sanctions evasion activity was coming through China, the United Arab Emirates and Turkey. She added that the Treasury "is working to disrupt evasion wherever we see it, from Central Asia to the Caucasus and throughout Europe

AGENDA

" There are no major macro releases expected today, while the US will be releasing the FOMC Minutes, and the UK will be releasing its CPI figures today.
" AYGAZ-CCOLA (Est: TRY 3.587bn)-THYAO (TRY 7.918bn) and TUPRS (TRY 8.235) are expected to release their 1Q24 financials after the session closes.

FINANCIAL RESULTS

" FROTO: 1Q24 net income came in at TRY 8.97bn vs TRY 8.16bn y/y. Revenues increased to TRY 124.2bn from TRY 113.6bn.
" TOASO: 1Q24 net income came in at TRY 2.81bn vs TRY 2.74bn y/y. Revenues increased to TRY 33.7bn from TRY 32.3bn y/y. The automaker expects 2024 domestic sales to be at 140k-160k range.

CORPORATE NEWS

" KCHOL: Regarding the media reports stating that there are near-to end discussions regarding the sale of YKBNK, the parent company stated, "As an investment holding company, we may engage in discussions with relevant parties in order to evaluate potential alternatives regarding our portfolio. As such, although preliminary discussions are ongoing regarding the subject matter of the news in the media, there is no development that requires us to make a public disclosure."

 
 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.