• The BIST opened the new week with a bang, closing a little over 5% at 5373, and a recent high turnover of TRY 102.2bn, thanks to hopes of a more normalized and rational economic system aimed at taming inflation, per the new Economy Minister, Mehmet Simsek’s weekend speech.
• The Banks lagged their peers after last week’s surge, rising by a mere 3.18%, whereas HSBC’s bullish Aviation report fuelled the index limit-up, and the Conglomerates rose by 5.58%.
• SASA, HEKTS and KCHOL closed limit-up, whereas KOZAA, GUBRF and ODAS trailed their peers among the Blue-chip stocks.
• Today, we expect the positive mood to continue, albeit at a slower pace as short coverings are likely to gain momentum in the afternoon. The margin calls in Borsa Istanbul derivatives market jumped to TRY864mn yesterday from TRY 376mn on Friday and TRY56mn on Thursday.
• As of yesterday’s close, the TRY is continuing its sharp depreciation against the USD at 21.45, and at 23 ticker against the Euro, whereas the DXY has receded to 103.88.
• On the Bonds’ side, both the 2yr and 10yr rates have risen by 181bps and 146bps to 15.28% and 13.44%, respectively.
• Brent has pared its recent rise to fall to USD 76.23, and whereas ounce GOLD is flat at USD 1959, whereas gram GOLD has risen to TRY 1351, due to the rise in the USD/TRY parity.
• Türkiye May inflation reading came close to zero at 0.4%, thanks to pencilling-in of “0” cost attribute to natural gas due to the 1-month free usage, whereas the y/y rate was at 39.6%. The core C inflation index on the other hand that excludes food, energy and gold jumped by a sizeable 4.25%. Clothing prices are up 9.8% m-m, whereas housing prices plunged 13.8%.
• Societe Generale stated that it expects the CBRT to raise rates by 650bps at the next MPC meeting to 15% at its next meeting on June 22nd.
NEWS FLOW:
• ADEL: Gross margin trading has been imposed on the stock until July 5th.
• KMPUR: Disclosed that it has received a €24mn export order to be delivered until the end of 2024.
AGENDA:
• The CBRT May Inflation Assessment Report will be released today, as well as the REER and the Cabinet Meeting, whereas on the International front, Germany will be releasing its April Factory Orders, and the Retail Sales figures will be released in the Eurozone.
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.
TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )
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