TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

WE EXPECT POSITIVE MOOD TO CONTINUE for BIST
" MSCI Asia is down by 0.7% after Yellen's remarks on the economic slowdown in China risking to have an impact on the global economy suppressing risk appetite in global markets. EU and US futures as they are also slightly down this morning. We expect the up-move on BIST to prevail.
" Agreements were signed between Turkey and Saudi Arabia in the fields of investment, defense industry, energy, defense and communication. President Erdogan gave a TOGG to Saudi Arabian Crown Prince Salman as a gift.
" Ukraine offered to continue the grain agreement with Turkey to the UN without Russia, while the UN called Russia to end the war and return to the grain agreement.
" Minister of Environment, Urbanization and Climate Change Ozhaseki said that if there is no problem on the land of the demolished house, they will provide support as the state for its on-site transformation. A grant of TRY0.5mn and a loan of TRY0.5mn for a 100 m2 house will be given. This news is positive for the construction sector.
" President Biden invited Israeli Prime Minister Benjamin Netanyahu to the United States.
" ECB Member Nagel said that a rate hike is needed at the meeting in July, while more data should be seen for the interest rate decision in September meeting.
" The central government budget posted a record deficit of TRY219.6bn in June.

AGENDA
" Residential Property Price Index for June will be released in Turkey.
" Retail Sales, Industrial Production and Capacity Utilization data will be announced in the US.
" President Erdogan's visit to Saudi Arabia, Qatar and the UAE will continue until 19 July.
" Egyptian President Sisi will pay an official visit to Turkey on July 27.

COMPANY NEWS
" EKGYO: The company has reached an amount of TRY28.96bn (excluding VAT) sales revenue for the first half of 2023 and achieved its targets with the sales of 508,944 sqm gross sellable area of 3,945 units. A Total of TRY0.39bn (excluding V.A.T.) sales in return for 43 units of abovementioned sales figures sold to foreign citizens.
" ASELS: An international sales contract of US$123.5mn has been signed between ASELSAN and one of its international clients for the supply of defense systems.
" GURSL: The company made a statement that along with all fuel price changes, other cost increasing items such as increase in minimum wages, bridge and highway tolls are reflected in their prices as per their contracts. Thus, the company is maintaining its cost balance, and the latest price changes will be reflected in their prices as per contracts.
" BRLSM: It has been announced that US$1.8mn of a contract signed with a company operating in the textile sector in Turkey and Solar Santral Enerji A.S., a subsidiary of the company for the turnkey installation of the SPP. The contract amount accounts to almost 8% of the company's sales in 1Q23 and it is planned to be completed in 12 months.
" AGESA: The company's premium production for the first half of 2023 announced as TRY3.2bn with 102% increase y-y and life branch was TRY3.13bn of it, and the rest TRY68mn was for non-life branch.
" TKFEN: It has been announced that the MMRA will pay Tekfen TML, in which Tekfen Construction has a 67% stake, US$35.4mn for the Libyan Great River Project, which was stopped due to the events in Libya in February 2011.

 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.