TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

• We expect downbeat pressure particularly on banks, Koc Group companies and retailers, which are the favourites of foreign investors. Foreign ownership in BIST free float has jumped from 28% to 30% in the past 1.5 months. Now we are envisaging a period of reversal for this trend. Neither candidate was able to clinch votes over the 50% threshold, thus taking the elections to a second round in 2 weeks and we expect volatile trading to ensue heading into the May 28th elections. However, we may see some stocks, such as ASELS, EKGYO and TTKOM, TCELL and state-banks perform better than their peers.
• The BIST ended the last day before the crucial Presidential elections on a loss of 1.08% to close at 4796, and turnover of TRY 77.4bn, as most investors opted to cash in their profits from the previous day.
• The Banks diverged positively from their peers, rising on average 1.90%, whereas the Transportation and Mining stocks were the most sold, both dropping over 2% in value.
• GARAN, AKBNK and BIMAS were the most bought blue-chip stocks, whereas ARCLK, ODAS and ENKAI suffered severe retreats, the sell-offs at ARCKLK were nearly 7%.
• For the week, the BIST rose by 8.97%, thanks to the 26.16% gains in the Banking stocks, followed by the 10.20% gains in the Conglomerates, whereas the Energy stocks suffered a loss of 1.17.
• The TRY weakened against the USD by 0.38% but strengthened against the Euro by 1.17%. On the Bond’s side whoever, the rate on the 2yr yields rose by 71.28% to 16.92%, and by 12.28% on the 10yr notes to 14.35%.
• As of Friday’s close, the TRY is trading weaker against both the USD and the Euro at 19.62 and 21.33, respectively, whereas the DXY fallen slightly to 102.61. The 5yr CDS rates are trading considerable higher by 70bps at 576 this morning.
• On the commodity front, Brent is trading a tad lower at USD 73.83, and ounce and gram GOLD are both slightly higher this morning at USD 2016 and TRY 1272, respectively.
NEWS FLOW:
• ARDYZ: Disclosed that it has signed a USD 0.95mn agreement with airport transport firm Havelsan
• ASELS: Disclosed that it has a TRY 51.7mn and USD 81.7mn agreement with the Ministry of Defense
• HLGYO: Disclosed that it has sold land in Kocaeli for TRY 210mn.
• OTKAR: Disclosed that it has signed a USD 41mn service and parts agreements for its 4x4 vehicle.
• PNLSN: Disclosed that it has signed a €5mn euro to produce sandwich panels in Italy.
• THYAO: Disclosed that within the scope of its 10yr strategic plan, it will buy 200 widebody and 400 narrow body planes.
• GENIL: Will distribute gross TRY 1.11 cash dividends today.
AGENDA:
• Cash Budget Balance, Homes Sales, CBRT Participation Survey, and the CBRT Financial Stability Report will be released, whereas the US will be disclosing the Retail Sales, Industrial Production, Capacity Utilization Rate, Building Permits and 2. Hand Home sales. The Eurozone will disclose the Industrial Production, GDP and most importantly, the CPI, and Germany’s most important disclosures are the Zew Index and PPI, and China will release its Industrial Production and Retail figures.


 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.