TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

• The BIST pared Friday’s losses, and added some, amid speculations of a reconciliation between the main opposition party and the far-right Iyi Party, ahead of last night’s Presidential disclosure, closing the day 3.45% higher at 5392, accompanied with a relatively high turnover of 97.7bn, led by the strong gains among the Banks and the Conglomerates, whereas the Mining and REITs lagged behind their peers. The Mining stocks on a global basis outlook underperformed their peers due to the lower-than expected growth expectations from China of around 5% for 2023.
• ISCTR-YKBNK and TKFEN led the gains among the BIST30 stocks, whereas KOZAL was the only blue-chip stock to close in the red but was followed in the bottom 3 by KRDMD and EREGL, due to their sub-par quarterly results. We observed the small-cap stocks perform better than their bigger peers yesterday.
• Today, we expect the positive mood at the BIST to continue from yesterday, parallel to the buying mood in the global markets, and coupled with the re-uniting of the 6-member opposition band, agreeing yesterday to appoint the main opposition party leader of CHP, Mr. Kemal Kilicdaroglu, as the their Presidential candidate, with the remaining 5 members to be the Presidential advisers, as well as the Presidents of Ankara and Istanbul. The 6-member band also disclosed a manifesto outlaying a return to a strengthened parliamentary system.
• As of yesterday’s close, the TRY is trading a nudge weaker against the USD at 18.91, and 20.21 against the Euro, whereas the DXY has fallen slightly to 104.20. The 2yr bond yields edged just 1bps higher to 10.50%, whereas the 10yr yields continued to upward spiral by another 30bps to 11.86%. The 5yr CDS rate have also fallen to 524 from the 550 levels.
• On the commodity front, Brent has risen considerably to USD 86.22 on China demand recovery and supply problems from Russia, and ounce and gram GOLD are flat at USD 1848 and TRY 1123 respectively.
• ECB Governing Council Member, Robert Holzmann, said that he backs 50bps rate hikes at every meeting through July, arguing that the core inflation is stuck at the current level for months.
• Iran stated that it has discovered what could be the world’s second-largest lithium deposit, estimated at 8.5mn tons, which is the key element in the batteries for electrical vehicles.

 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.