TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

BIST SET TO CONTINUE YESTERDAY'S RALLY
" The BIST100 pared its intraday losses towards the end of the day, after dip buyers went bargain shopping from the 7800 level, to close the day 1.31% higher at 8119, and turnover of TRY 143.5bn-a positive closing seemed perhaps utopic considering the earlier selling frenzy, after the shovel was ready to lay dirt on the BIST.
" The European markets also closed positively after the dovish interpretations from Lagarde's speech, coupled with the 25bps cut in the RRR by the Bank of China for the second time this year to boost liquidity and support for the economic recovery.
" The Conglomerates and Transportation stocks led the BIST rally, both rising by over 2%, whereas the Banks felt the pressure from the new CBRT RRR, losing 0.09%, while the Energy stocks were yesterday's most sold stocks, dropping 1.37% in value.
" Today, we expect the positive momentum from yesterday to continue today as well, helped by the positive closing in the US and European markets, upbeat momentum in their futures pricing as well as the positive trading this morning in the Asian stocks, as China's August retail sales and factory output beat expectations.
" KOZAA, ALARK and FROTO were yesterday's biggest gainers, as opposed to YKBNK, AKBNK and SASA.
" Currently, the TRY is trading flat against both the USD and the Euro at 26.94 and 28.70, respectively, while the DXY hovers above 105, up from its 100 mark just two months earlier.
" On the commodity front, Brent is trading higher at USD 93.84, while ounce and gram GOLD prices have risen to USD 1915 and TRY 1659, respectively. Higher Brent crude prices is no good for global inflation. Yet it does not trigger a risk-off mood as the central banks are not capable of controlling this variable through rate hikes.
" The ECB opted to increase rates by 25 basis points, a 10th consecutive hike taking its main rate to 4%, as economists were equally divided on whether or not the ECB would keep rates steady or increase rates further. At the press conference, President Christine Lagarde hinted at a possible on the interest rates. A key reason for the hike yesterday appeared to be upward revisions in newly published staff macroeconomic projections for the euro area, which sees inflation averaging at 5.6% this year from a prior forecast of 5.4%, and 3.2% next year from a previous forecast of 3%.
AGENDA:
" On the local front, The Treasury Budget Balance will be disclosed, as well as the Home Sale Figures and Expected 12-month Inflation Survey, while on the global front, the Chinese IP, US August IP, and Michigan Consumer Sentiment and NY Empire State Manufacturing Index will be released. Please note that Treasury and Finance Minister will be joined by President Erdogan on Sep 19th trip to the US with investors, and this may create a buying opportunity on HALKB shares.
CORPORATE:
" For the week of Sep 1-8, Foreign Investors were NET SELLERS of USD 1mn Turkish STOCKS and USD 26mn BONDS. However right after September 8th foreigners started buying and their stock market share jumped from 31.5% to 33.1% as of now w-w.
" AGESA: Disclosed that its risk premiums for the Jan-Aug period was TRY 4.5bn
" AKSEN - It was announced that 140.91 MW storage WPP (Wind Power Plant) pre-license right was obtained in Eskişehir, and a total installed power of 701.95 MW was reached with 551.95 MW storage WPP.
" EKGYO - It was announced that the contract for the Istanbul Beşiktaş Akat Land Sale for Revenue Sharing was signed with the contractor and that the total revenue share of the company against the land will be 2.8 billion TL.
" KCAER: Disclosed that in the last 45 days, it has received USD 23.5mn orders from the MENA area, representing 19% of its total 2022 sales.


 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.