Mornıng Trıve report (Trive Yatırım Menkul Değerler )

The BIST100 fell by a half-percent lower to close at 10,638, and on a turnover of TRY 93.7bn, despite appearing to make a break for a green close in the second part of the day.
The Banks managed to diverge positively from its peers, rising by 0.28%, led by the 4.38% surge in GARAN shares after its strong quarterly results, whereas the Energy-Conglomerates and Transportation stocks weighed down on the gauge.
KONTR-GARAN and SASA were yesterday’s biggest blue-chip advancers, whereas ASTOR-BRSAN and HEKTS were the most sold. ANHYT’s strong quarterly results, attributing it to close limit up, also triggered the buying frenzy in the Insurance stocks.
As of print, the TRY is trading weaker against both the USD and the Euro at 33.18 and 35.92, respectively, while the DXY has retreated to 104.03. The 2yr and 10yr benchmark yields both closed 14bps higher to 42.42% and 28.35%, respectively.
On the Commodities front, Brent is continuing to trade higher on the back of the tension in the Middle East at $81.44, and GOLD prices are also higher at $2446, thanks to yesterday’s post-Powell rate cut remarks.
As expected, the Fed held short-term interest rates steady, but indicated that inflation is getting closer to its 2% target. Speaking after the rate disclosure, Chair Jerome Powell indicated that while no decision has been made about actions at future meetings a cut could come as soon as September if the economic data showed inflation easing. “If that test is met, a reduction in our policy rate could be on the table as soon as the next meeting in September,” he said to the media.
The State Petroleum Pipeline Company, BOTAS, announced a 38% price hike in natural gas usage for households.
A withholding tax has been imposed on the FX-Linked Savings Accounts, ranging from 5% to 7.5%.
Vice-President Cevdet Yilmaz disclosed yesterday that the Medium-Term Economic Program will be unveiled in the first week of September.
 

AGENDA

 

On the local front today, the Weekly Banking numbers and Non-Resident STOCK/BOND Holdings will be released, while on the international side, the PMI figures will be disclosed from the Eurozone and the US, the BOE will release its policy rate decision, where expectations are for a 25bps rate slash, and the US Weekly Jobless will also be carefully monitored.
TSKB and TOASO are expected to release their financials after the market closes today.
2Q2024 FINANCIAL RESULTS

OTKAR: Disclosed a net loss of TRY 921mn vs a net profit of TRY 552mn last year.
TTRAK: Disclosed a net profit of TRY 1.94bn. The Company has revised down its 2024 Guidance. Accordingly, it expects the tractor market size to be 58k-64k vs 60k-68k, domestic sales to be 30k-33k vs 31k-35k, while maintaining exports unchanged at 13.5k-15k level.
 
 
 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.