• Despite another shaky start to the day, the BIST managed to pare its losses in the second half of the day, to close 1.91% higher at 9749, but on a low turnover of TRY 76.3bn, ahead of Friday’s long weekend.
• Today, the higher-than expected inflation reading from Australia is triggering risk-off mode in the Asian markets, while the US Futures are flat, indicating a flat opening at the BIST as well.
• The Telecom-Transportation and Service sectors led the buying frenzy, closing 3.29% and 2.68% higher, the Airlines (at par with its global peers), rebounded thanks to the WHO’s calming of the nerves regarding the M-Pox virus, while the Banks closed 1.40% higher, and the Industrial and Conglomerates by +1.16% and +1.13%, respectively. After Monday’s surge, the Energy stocks stopped to catch its breath, lagging the rally with a mere 0.36% rise, and Monday’s selloffs in the Mining stocks continued yesterday as well, with a loss of 1.77%.
• TCELL finally ended its recent drought and topped the best performing BIST30 stocks thanks to its 6.04% rise, followed by PGSUS and OYAKC stocks, while KOZAL-PETKM and BRSAN were the most sold.
• Regarding yesterday’s media reports of ULAK’s 5g developments, and entity comprised of ASELS and NETAS, both stocks ended the day on a high note-closing 3.67% and 3.46%, respectively.
• As of print, the TRY is trading slightly weaker against the USD at 34.05, but stronger against the Euro at 37.97, while the DXY is higher this morning at 100.79.
• The 2yr and 10yr rates continued their rise from Monday, both closing 11bps higher at 42.16% and 28.41%, respectively.
• On the Commodity front, Brent is trading calm this morning at $78.60, while after peaking at its new historic level at $2529 yesterday, ounce GOLD has retreated this morning to $2509.
• In its summary report from last week’s MPC meeting, the CBRT stated that the leading indicators are showing a slowdown in inflation, but in cautious to the upwards risk in inflation, the Bank will maintain its cautious stance.
AGENDA
• On the local front, the Trade Balance will be released, while there are no exciting macro releases on the International side.
2Q2024 FINANCIAL RESULTS
• TABGD: Disclosed that its quarterly net income was at TRY 769mn vs TRY 855mn y/y, and that its 6mth net profits fell by 57% to TRY 913mn from TRY 2.13bn.
CORPORATE
• SAHOL: Disclosed that in line with Çimsa's strategy to grow in sustainable building materials markets and expand its global footprint, a share purchase agreement has been signed on 27.08.2024 to acquire 94.7% of the share capital of Mannok Holdings DAC ("Mannok") by Cimsa Ireland Ltd, a 100%-owned subsidiary of Sabanci Building Solutions BV ("SBS").
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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.
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