• The BIST fell yesterday by 1.15% to 5261, and turnover of TRY 83.9bn, due to global inflation and rate hike worries as well as weaker than expected 4Q22 EBITDA announcements in BIST. The Aviation and Energy stocks were the most sold, whereas the Banks decoupled positively from their peers. We also observed positive interest on the Food stocks, amid the BIST100 stocks. The European markets managed to pare their earlier losses, especially after the Eurozone inflation reading came in above expectations.
• As for the BIST30 front, DOHOL, ISCTR and ARCLK were the most bought, whereas KOZAL, KRDMD and KOZAA, due to their poor financial results, were the most stocks. Yesterday’s surprise announcement regarding TOASO/KCHOL and Stellantis caused a brief euphoria, before TOASO and KCHOL closed 3.28% and 0.56% at the end of the day.
• Today, we may see the BIST open on a positive note after yesterday’s sales, as the U.S. markets observed strong gains thanks to Atlanta Fed President, Raphael Bostic’s remarks that he believes once the central bank pauses raising rates it should hold them there, adding he expects the Fed would be in a position by mid to late summer to pause interest rate hikes.
• As of yesterday’s close, the TRY is trading flat against the USD at 18.89, but slightly weaker against the Euro at 20.05, whereas the DXY fell after Bostic’s comments to 104.86. Both the 2yr and 10yr local bond yields rose by 14bps and 11bps respectively, to 10.63% and 10.73%.
• On the commodity front, Brent is trading flat this morning at USD 84.50, and both ounce and gram GOLD are trading higher this morning at USD 1840 and TRY 1118, respectively.
• The Eurozone February inflation figure came in higher-than expected at 8.5%, just 0.1% better than January, vs the 8.2% forecast, thus prompting expectations of further interest rate hikes due to the persistently rising prices.
• Last week, Foreigners were net SELLERS of USD 259.5mn COMPARED to last week’s buys of USD 9.2mn in equities. But they were net BUYERS to the tune of USD 13.4mn BONDS, vs. last week’s SELLERS of USD 38.7mn.
NEWS FLOW:
• According to the Official Gazette, the tax bracket for electric-powered vehicles has been increased, thus, for vehicles with less than 160KW, and with a tax rate of 10%, the retail price has been increased to TRY 1.25mn from TRY 700mn.
• BRSAN: Disclosed that it has been awarded the TRY 1.2bn pipeline procurement tender along with its partner in the West Black Sea Phase 2 project.
• ALFAS: Disclosed that it will increase its registered capital to TRY 4bn from the current TRY 200mn
• ALKA: Disclosed that it will relocate its recent 125k/ton paper production plant in Germany to Izmir/Turkey.
• EKGYO: Disclosed that it has sold two lands for TRY 6.4bn and its Florya land for TRY 1.2bn.
AGENDA:
• On the local front today, February Inflation figures will be released (Est. 3.50% m/m; 55.70% y/y), as well as the REER, whereas our international colleagues will be tracking the U.S. PMI figures, and ISM non-mfg, as well as the China Caixin non-mfg PMI, Germany, February Markit non-mfg. PMI, Eurozone, February Markit non-mfg. PMI, and the Eurozone, February PPI
TFG Istanbul Menkul Değerler A.Ş.
www.tfgistanbul.com/arastirma-raporlar
***
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.
TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )
Diğer Haberler
Facebookta Paylaş