TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

INVESTORS HOPING NEW MONTH WILL BRING POSITIVE RESULTS AND LESS VOLATILITY-WEEK KICKS-OFF WITH CPI FIGURES
• The BIST100 closed Friday on a positive note, closing 1.05% higher at 3180, but on a relatively low turnover of TRY 47bn, with the gains being spearheaded by Aviation and Services stocks, whereas the Banks lagged behind their peers with a rise of just 0.42%. VESTL, PETKM and SASA led the gains among the BIST30 stocks, whereas ARCLK, ASELS and TUPRS were the most sold.
• For the week, the BIST100 fell by 3.10%, with the Banks losing 2.01%, the Industrials by 2.07%, and the Conglomerates were the worst performers, losing 5.80% in value. The most bought BIST100 stocks were ISFIN, KONTR, and HEKTS, whereas the most sold were ISGYO, SKBNK and TSKB. The TRY deteriorated by 0.62%, with the Russian Ruble taking the top spot as the most sold EM currency last week, losing nearly 4% in value, vs. the Czech Koruna’s 1.31% strengthening.
• September was really a month investors wanted to forget, due to the widespread volatility in the Banking stocks. Despite the harsh sell-offs coming in the second half of the month, the BIST100 managed to close a half-point higher, led by the gains in SMARTG, KONTR, and TUKAS, whereas ISGYO, SKBNK and TSKB were the most sold.
• Today, we expect a flat opening amid the mixed trading mood in the global markets.
• The TRY is currently trading weaker against the greenback at 18.55, vs. Friday’s level of 18.50, and the DXY was trading higher at 112.20, a short whistle ago, but has since fallen to 111.82 vs. Friday’s level of 112.12. The 2yr and 10yr local bonds rates rose by 23bps and 6bps to 15.06% and 11.99%, respectively. The CDS rates will open the new week from the 782 level, after falling by 8pts on Friday, and closing the week flat.
• On the Commodity front, Brent has risen to USD 87, ahead of Wednesday’s OPEC+ meeting, with expectations of a production cut greater than 1mn b/d, according to member delegates-this will be the first in-person meeting of OPEC members in 2years! Ounce and gram GOLD prices have risen slightly to USD 1664 and TRY 993, respectively.
NEWS FLOW:
• ZOREN: Disclosed that its Kizildere powerplant with a total capacity of 80MW has been increased to 91.995 with the interegration of solar power production.
• TTKOM: Disclosed that an greement between its subsidiary TT Ventures and Istanbul Portfoy has been signed regarding joint ventures in technology.
• Turkey has detained 8 people linked to alleged stock market fraud that led to the sharp plunge in Turkish equities last month.
• Turkey will support new home buyers with a 600bps rate discount, according to media sources.
• BOTAS stated that due to its rountine maintenance and repair works, natural gas supply from Iran will be suspended from Oct.2-9.
• Standard and Poors’ downgraded Turkey’s Debt Rating to B from B+, with a Stable Outlook, citing:
o Loose monetary and fiscal policy settings, and low net foreign currency reserve levels, underscore the Turkish lira's vulnerability to renewed volatility, with implications for financial stability and public finances
AGENDA:
The local agenda will kick-off today with the September CPI (m/m: +3.15% vs prev. +1.46%/y/y: +83.50% vs prev. 80.21%) and PPI figures, (Est. y/y: +143.75%), as well as the PMI, Weekly Foreigners’ STOCK and BOND investment change, and the Cash Budget Balance.
On the international side, US PMI, Construction Spending, Durable Goods Orders, JOLTS Job Openings, ADP Employment Change, Trade Balance, Jobless Claims, Wholesale Inventories, and the NFP and Earning numbers will be disclosed. On the EU side, the PMI, CPI and Retail Sales will be followed. Please note that China will be closed this week as it celebrates its National Day.

 TFG Istanbul Menkul Değerler A.Ş.
  www.tfgistanbul.com/arastirma-raporlar
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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.