TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

UPTREND CONTINUES, AS THE RISING INTEREST RATES SINK THE GLOBAL MARKETS
• The BIST closed the day on a gain of 0.31% at 8514, and turnover of TRY 160.4bn, despite a brief stint in the red-zone, due to the negative trading in the US markets as Atlanta Fed President Raphael Bostic stated that high interest rates would need to stay in order to curb inflation, thus accelerating the 10yr US Bonds to their highest level in 16 years-the main gauge for mortgage rates and investors' economic confidence. The US markets and the European markets, however, closed in the deep red yesterday. The BIST diverged positively due to its unique internal catalysts.
• The Banks and the Transportation stocks weighed down on the benchmark, while the gains in the Industrials and Energy stocks, along with the Mining stocks, helped lift the BIST higher.
• As such, FROTO topped the BIST30 list, after disclosing a handsome dividend payment, and was followed by KOZAA and KRDMD shares, whereas ISCTR-BIMAS and THYAO were the most sold.
• Today, we expect a flat opening at the BIST, as local investors will be following details from Treasury and Finance Minister's meeting in London with investors.
• As of yesterday's closing prices, the TRY is trading considerably weaker against the USD at 27.55,, and slightly weaker against the Euro at 28.84, while the DXY is trading higher at 107.04.
• On the Commodity front, Brent is trading lower this morning at $90.22, and whereas ounce GOLD is trading lower at $1821, gram GOLD is flat at TRY 1614, due to the rise in the USD/TRY parity.
• Türkiye's September inflation reading came in at 4.75% on a monthly basis, and 61.53% y/y rates, thus rising to its highest annual reading.
• At yesterday' Planning and Budget meeting, CBRT Governor, Hafize Gaye Erkan stated that disinflation was possible without sacrificing growth, while stressing the monetary authority's commitment to achieving price stability without compromising economic growth amid aggressing tightening aimed at containing domestic demand that has been the main driver of inflation. She also added that the effects of the tightening policies would take effect in 2024, disinflation would occur in 2025, and single-digit inflation rates would be observed in 2026.
• The Minister of Environment and Infrasture, Mr. Mehmet Ozhaseki, stated that they want to establish a Ministry for Urban Transportation.
AGENDA
• On the local front today, the CBRT September Inflation Assessment Report will be disclosed, whereas our international peers will be following the PMI figures from Germany and the Eurozone, as well as the PPI figures from the Eurozone, and the US PMIs, alongside the Durable Goods Orders and August Factory Orders, and the ADP figures. ECB President, Christine Lagarde is also expected to speak today. OPEC+ meeting will also be held today.
CORPORATE
• ASELS: Disclosed that it has signed multiple contracts worth a total of $4.9mn, €5.2mn and TRY 55.3mn related to Communication Systems, Seeker Head Systems, and Firing Control Systems with Roketsan.
• CWENE: A 6.2 million-dollar agreement for GES installation on a land in Balıkesir has been established between the company and a customer, as well as company named CW Storage Energy with a capital of TRY 250,000 is set to be established.
• EUPWR: The company secured the Air Cell Transformer Center Framework Sub-Purchase Job tender carried out by Başkent Electricity Distribution with a bid of $0.93mn.
• SASA: Disclosed that the full Adana GES investment is completed.
• VBTYZ: A $4.0mn agreement on Main System Data Storage Systems and Additional Capacity Purchase is in place between the company and a bank.
 


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 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.