• The BIST closed yesterday 2.41% higher at 5189, and turnover of TRY 125, quickly rebounding after the previous day’s panic sell-offs, led especially by the gains in the 7% rise in the Banks, whereas the REITs lagged behind their peers due to the drag in the EKGYO shares.
• On the BIST30 side, TTKOM and HALKB closed limit-up, and were followed by VESTL, whereas PGUS, EKGYO and EREGL shares were the most sold.
• Today, we expect the positive mood to continue, albeit less enthusiastically then yesterday.
• As of yesterday’s close, the TRY is flat against the USD at 18.64, but weaker against the Euro at 19.85, and the DXY has risen a tad to 104.40 from 103.9 at BIST closing. The 2yr and 10yr rates both fall by 12bps and 30bps respectively to 9.16% and 10.94%, respectively.
• On the commodity front, Brent has fallen 1.2% to USD 81.11, and both GOLD prices have also plunged due to both the hawkish rhetoric from the Fed, followed by the ECB and the BOE, currently ounce and gram GOLD are trading at USD 1779 and TRY 1066, respectively.
• Yesterday, both the BOE and the ECB raised the interest rates parallel to the market expectations of 50bps. President Lagarde said there will be more interest rate hikes in future, at a steady pace, as the euro area is expected to undergo a shallow recession and inflation is set to remain uncomfortably high for a long time. "We decided to raise interest rates today, and expect to raise them significantly further, because inflation remains far too high and is projected to stay above our target for too long," Lagarde said in her introductory statement to the post-decision press conference.
• TR HOUSING: Home sales continued to their fall, dropping a further 34.1% y/y to 117,806 units in November, whereas Russians were the highest home buyers among foreigners.
• TR BUDGET: November budget balance gave a surplus of TRY 108.3bn, thus reducing the 11m22 deficit to TRY 20.4bn.
NEWS FLOW:
• HALKB: According to the VOA website, the US prosecutor stated that the Bank can be tried in the US
• KOZAA: Short-selling and margin buying has been imposed until Jan 13, 2023
• SUWEN: Confirmed in the public disclosure that it was given up to TRY 20mn support from the government for its multi-channel franchising operations.
AGENDA:
• On the local front, the CBRT year-end CPI forecast will be released, whereas on the international front, the Eurozone CPI figures and PMI figures will be released, whereas our colleagues across the pond will be following the PMI numbers
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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