Mornıng Trıve report (Trive Yatırım Menkul Değerler )

MONDAY BLUES
" The BIST100 opened the new week on a deep loss of 2.54% to close at 7790, and turnover of TRY 78.1Bbn, jaded (discouraged) by Moody's underappreciation for the Economy team's efforts to control inflation and raise its reserves to its historic peaks, as well as the rise in Brent prices due to the sea freight risks in the Red Sea caused by the Yemeni Houthis. However, besides the UK and later on the UK markets, the European markets also closed negatively yesterday.
" Despite expectations to underperform its peers yesterday after last week's surge amid expectations of a favourable outlook/rating upgrade from Moody's, as well as the drop in the CDS risk premiums and influx of foreign investors, the Banks managed to be resilient in the face of the broad sell-offs, thanks partly to former CBRT Governor and new BRSA Head, Sahap Kavcioglu's statements that foreign investors were showing interest in the Turkish Banks. On the flip-side, the Mining and Energy stocks were the most sold, falling by over 4% each.
" HEKTS-ISCTR and ENKAI were the most bought blue chip stocks, whereas GUBRF-KOZAA and ASELS were the most sold. TKFEN also lost nearly 9% after it disclosed its losses in Qatar.
" This morning, the TRY is trading flat against both the USD and the Euro at 29.06 and 31.75, respectively, and the DXY is also relatively calm at 102.55. The 2yr and 10yr Bond yields both fell by 88bps and 21bps respectively to 36.67% and 25.44%, respectively.
" On the Commodity front, Brent is trading slightly lower after yesterday's surge at $78.16, and Ounce and Gram GOLD are flat at $2025 and TRY 1892, respectively.
" Housing prices surged by 86.46% on an annual basis, but the rate of acceleration on a mm basis was registered at 3.83%.
" Today, the BOJ kept its policy rate unchanged at -0.1% but offered no guidance whether they would keep or scrap the negative rate regime.
AGENDA:
" There are no major local macro releases expected today, while the US will be disclosing its Building Permits and Housing Starts, while the Eurozone will release its Inflation figures today.

CORPORATE:
" KORDS: Disclosed that it signed a significant commercial collaboration agreement with FACC AG, the global leader in the global aerospace industry. The agreement covers the process related to the supply of flame retardant epoxy-based products specially produced by Kordsa for use in the cabin interior components to FACC AG, adding that the total value of the products in the scope of this agreement will be determined in the future. The total monetary value of the orders will be announced to the public if they will have material impact on our consolidated financials.
" BRSAN: Disclosed that in alignment with evolving market conditions, changing industrial dynamics, and our strategic objective to establish a local presence in target markets regarding the production of large diameter pipes which are included in infrastructure and project business line, our company completed the acquisition of "Berg Pipe" in the United States of America ("USA") in April 2023 and with the relevant acquisition, due to excess supply of large diameter pipes in Turkey and neighboring regions, a growing emphasis on protective policies in foreign markets, and the anticipation of regulatory changes such as carbon border taxes.
" FONET: Disclosed it signed two 36 month agreement for TRY 32.7mn and TRY 20.9mn, respectively.
" ULUUN: Disclosed that it will increase its paid-in capital to TRY 600mn from TRY 191mn, via bonus issue, after first reducing its capital to TRY 178.5mn due to the 12.5mn shares allocated to share buyback program.


 
 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.