TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

• The BIST opened the first day of the week with an enthusiastic rise, despite a turnover of less than TRY 100bn at TRY 94bn, closing the day 4.5% higher at 5208, thanks to the gains in last week’s underperformers, the Banks and Transports-rising 5.32% and 6.72%, respectively, with the Industrials and Conglomerates closing 4% and 3.72%, respectively. Easing of the TRY required reserves on deposits with over 3 months of maturity boosted investor appetite on bank stocks.
• HALKB, ahead of today’s court hearing in the US, GUBRF and KOZAA closed the day limit among the BIST30 stocks, whereas only SASA closed in the red, and that was just ¾’s percent lower, followed by KRDMD and EREGL, whose gains trailed the benchmark.
• Today, we expect the buying appetite from yesterday to continue on the back of further short coverings triggered by reinvestments bounced from hugely oversubscribed Astor IPO.
• As of yesterday’s close, the TRY is trading a tad weaker against the USD at 18.80, and also tad weaker against the Euro at 20.35, whereas the DXY is trading slightly lower at 102.30.
• The 2yr bond rates rose by 7bps to 9.94%, whereas the 10yr yields were flat at 10.32%. The CDS rates rose by 8pts to 563.
• On the commodity front, Brent is trading slightly higher at USD 84.75, and whereas ounce GOLD is trading lower at USD 1910, gram GOLD is flat at TRY 1155.
• Turkish and Russian Presidents held a phone conversation yesterday, discussing cooperation in the energy sector, including natural gas supplies and the creation of a regional gas hub in Turkey, as well as the war in Ukraine, prisoner exchange and the implementation of grain deal, as well as the normalization of Turkish-Syrian relations, including in the context of Ankara’s initiative to launch consultations involving Russian, Turkish and Syrian representatives.
• China reported a 3% GDP growth rate, beating the 2.8% estimates, thanks to the rebound in the December retail sales and industrial production numbers. However, the growth number is the second-lowest annual economic growth rate in 46 years!
NEWS FLOW:
• Turkey: The Central Government recorded a budget deficit of TRY 118.6bn in December, compared to last month’s TRY 108.3bn surplus.
• Iron & Steel: According to the daily Ekonomim website, the fall in the aluminium and metal prices is raising production concerns, as buyers are only buying the commodity on a need-be basis.
• AKSEN: Disclosed that it was not ordered to reimburse customers for price hikes.
• ANHYT: Disclosed that its premium generations rose by 78.8% to TRY 3.5bn.
• ANSGR: Disclosed that its premium generation rose by 121.3% to TRY 23.8bn.
• ALARK: Disclosed that the Energy regulator, EBRD approved its subsidiary Altek’s additional 1.5323 MWp increase from 76Mwe solar-power energy at its Adana facility.
• ASTOR: Disclosed that its shares will start trading at the BIST starting tomorrow.
• GLYHO: Disclosed that the number of cruise ships rose by 94% in 2022 compared to December 2019, and PAX numbers by 20%.
• ISCTR: Disclosed that it will raise its registered capital to TRY 25bn from TRY 10bn
• QUAGR: Disclosed signing a TRY 1bn deal throughout 2023 with a local distribution company.
AGENDA:
• On the local front, Home Sales figures and Prices will be released, whereas on the international front, we welcome back our US colleagues after the observance of MLK Day, as they will be greeted by the Empire State Manufacturing data, and elsewhere, China Retail Sales, Industrial Production and GDP will be released, Germany will release its ZEW Index and CPI figures, and Fed’s John Williams will be speaking today.

 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.