Mornıng Trıve report (Trive Yatırım Menkul Değerler )

he BIST100 closed at its peak yesterday of 11,024, thus rising by 2.62%, and on a turnover of TRY 103.9bn, led by the gains in the Banks and the Conglomerates, while the Energy stocks also tried to play catch up to its peers after their recent losses.

· The Banks rose by 4.58%, the Conglomerates closed 2.58%, and the Energy stocks rose by 2.55%, while the Transportation and Mining stocks lagged the gains in the benchmark.

· GUBRF-GARAN and SAHOL were yesterday’s biggest advancers among the BIST30 stocks, whereas TAVHL-TOASO and ASELS were the most sold.

· As of print, the TRY is trading considerably weaker against the USD at 32.97, but flat against the Euro at 35.84, and the DXY is also calm at 104.45. The 2yr bond rates rose by 36bps to 40.55%, while the 10yr yields fell by 12bps to 27.66%.

· On the Commodity front, Brent is trading lower this morning at $84.93, and GOLD has also turned its nose downwards to $2407.

· Regarding oil, The International Energy Agency (IEA) has revised its forecasts, stating that global oil demand growth is continuing to slow, with a noticeable dip in consumption in China. The updated projections reflect ongoing economic challenges and changes in energy policies impacting global oil markets. The IEA said oil demand increased by just 710,000 barrels per day in the second quarter, the slowest rate in over a year.

· The US CPI figures declined to their lowest level in 12 months to 3% from 3.3% in May, while the expectation was 3.1%. This sparked a risk-off rally at the markets, as it may encourage the Fed to prepare to lower interest rates in its coming meetings, especially after Powell’s caution towards the increase in the Unemployment Rate. Staying on the topic, JPMorgan pulled forward its expectation of the first Fed cut from the Fed to September from November.

· Last week, Foreign Investors were net BUYERs of $156mn STOCKS and net BUYERs of $1.48bn BONDS.

· According to Bloomberg, Türkiye is trying to pare back its $23bn deal for F-16 jets with the US and will seek an offset agreement to produce some warplane parts locally. At the NATO meeting, President Erdogan stated that US President Joe Biden told him he would resolve the F-16 procurement in 3-4 weeks.

 

AGENDA

 

On the local front, The Current Account Balance will be released on the home-front, while across our borders, the US will be releasing its PPI figures and July Michigan Consumer Sentiment.
 

 

CORPORATE NEWS

 

ANHYT: Disclosed that its gross premium generation rose by 81.8% y/y to TRY 5.3bn.
GLYHO: Increased its paid-in capital by bonus issue by 200% to TRY 1.95bn from TRY 650mn.
MGROS: Disclosed that the sale of its real estate in Antalya has been completed with an amount of TRY 875mn + VAT.
TCELL: Disclosed that TDC Veri Hizmetleri A.Ş., in which TCELL’s wholly owned subsidiary Turktell Bilişim Hizmetleri A.Ş. has a 100% shareholding and whose capital is TRY 250,000, has been incorporated.
 
 
 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.