TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

Disclosure of Eris Covid Variant Sinks BIST Ahead of CBRT and Global Central Banks’ Meetings This Week
The BIST100 faced harsh sell-offs on Friday, on the back of the Health Minister’s announcement that 9 Eris variant Covid cases w in Türkiye, sinking the market by 1.93% to 7962, but on a relatively low turnover of TRY 132.5bn. As expected, the Aviation stock most sold, whereas the Health sector stocks were the most bought, albeit suffering profit taking towards the close. The Banks lower by 0.21%, led by HALKB, whereas the REITS and Energy were the most bought, and the Aviation and Mining were the most so
Today, we expect flat opening at the BIST.
Last week, the BIST100 fell by 4.43%, and the BIST30 by 5.17%, downed by the 8.70% sales in the Banks due to the increase the FDP’s, followed by the sales in the Transportation stocks, dropping 6%, and Energy and Mining stocks losing 4% in value, while the REITs were a mere 0.93%, incubated from its peers due to new housing projects on the aftermath of the earthquake, and low offers.
The TRY weakened by 0.59% and 0.26% against the USD and the Euro, respectively, while Brent surged by 3.89% on the back of OP warnings of tight supply and strong demand, while ounce GOLD was relatively calm.
As of Friday’s session closing numbers, the USD is trading flat against both the USD and the Euro at 28, and 28.81, respectively DXY has retreated slightly to 105.24. On the commodity front, Brent has risen to USD 93.91, and ounce and gram GOLD are trading at USD 1930 and TRY 1675, respectively, ahead of this week’s critical Central Bank meetings.
On Sunday, Arun Venkataraman, Assistant Secretary of Commerce for Global Markets and Director General of the U.S. and Foreign Commercial Service, expressed optimism about the potential for significant growth in trade between the United States and Türk highlighting the importance of the "deep strategic partnership" between the two countries, and added that the goal was to ach $100bn trade between the US and Türkiye.
Speaking ahead of his flight to the US, President Erdogan stated that Turkey might part ways with the EU, and abandon its bid membership, adding that the EU is trying to break away from Türkiye, by stating, “We will make our own evaluation of these developments, and if necessary we could party ways with the European Union, when asked about the contents of the EP Report on Tuesday. The EP Report, which as adopted, stated that Turkey’s accession process with the EU cannot resume under current circumstances, calling for the EU to explore a “parallel and realistic framework for its ties with Ankara, thus itself calling for the termination of Turkey’s inclusion into the bloc.
The CBRT 12mth Inflation Expectation has been increased to 44.94% from 42.01.% The BIST has made some amendments to executions. Accordingly, order cancellation, price worsening and quantity reduction can be made in shares, except for the last 5 minutes collection phase of the opening session. order cancellation, price worsening and quantity reduction can be made during the en collection phase of the opening session for capital market instruments other than shares included in the opening session of the market. Regarding the opening session of the share market, market and market-to-limit order types can be transmitted in the Star Main Market and capital market instruments other than shares included in the opening session.
AGENDA:
The main news flow this week, will be the policy rate disclosure from our very own CBRT, as well as the FOMC, BOE and the BOJ agenda will kick-off with the House Price Index, and followed by the Consumer Confidence Level, the MPC (Bloomberg est: +500bps) Weekly Foreign Net Stock/Bond Holdings. Besides the CB meetings, the USD will be also disclosing the Building Permits, New Ho Existing Home Sales numbers, and the PMI, while the Eurozone and UK will disclose its Inflation figures, a key determinant while the ECB will hike rates by another 25bps, as well as the PMI figures. Japan will also disclose its inflation figures this week.
CORPORATE:
HALKB: According to media reports, the US has opened an indemnity case against the public bank on behalf of families killed i Afghanistan, for its alleged support for terrorism, on the heave of President Erdogan’s visit to the US, where he is expected to UN General Assembly on Tuesday, while Finance and Treasury Minister, Mehmet Simsek will be meeting with investors. The latest flow may create a negative overhang on the Bank.
ENKAI: According to BloomberHT, South Korean Nuclear Reactor construction company KEPCO, submitted a preliminary offer on Feb 1st for the construction of a new nuclear plant in the Black Sea town of Sinop, in -line with its 2030 strategy of 80 new global rea constructions.
ADESE - İrent Oto Kiralama purchased 59 vehicles; 53 vehicles were leased through Financial Leasing for 41.6 million TL, and 6 v were purchased with a total amount of 46 million TL from own resources. It was announced that the vehicles would be rented to and group companies.
ASTOR - Announced that the company signed a power transformer sales contract worth $10.7mn, and $5.9mn power transformer contract with İskenderun Enerji. The company also announced the GES investment plan on the land owned by the company in Ankara Bala, a contract for the construction and commissioning of a GES plant with 13,950 MWe / 17.73 MWp power was signed between company and Zonex Enerji for 2.7 million dollars.
ASELS - Announced that the company signed a contract with SSB for the purchase of Guidance Kits worth 40.8 million dollars and 3 million TL.
CVKMD - Announced that the company and its subsidiary Hayri Ögelman Mining agreed with a foreign customer for the sale of Mining for a total of $3.1mn.
GLYHO & NTGAZ - 23,000,000 shares corresponding to 10% of the capital of NTGAZ owned by GLYHO will take place on 18 September within the scope of wholesale purchase and sale transactions at a price of 16.50 TL per share.
ISCTR - It was announced that the General Directorate was authorized to take over 50% of the shares of Greeneco Energy Electrici Production for 130 million dollars.
ORGE - It was announced that the contract size of 2.1 million euros and 18.7 million TL, which is ongoing with the Employer in t New Airport - Halkalı Metro Project, was revised to 2.1 million euros and 25.1 million TL.
PNSLN - It was announced that the company received a sandwich panel order worth 0.84 million dollars.
PRKAB - It was announced that the company gave the lowest offer in the construction work of the HKABY.12 Referenced, Side GIS TM Manavgat TM Brş N 154 kV, 2x1600 mm², 7.70 km XLPE Insulated Underground Power Cable Connection Project carried out by TEİAŞ through the EKAP electronic tender and the contract of the tender worth 817.6 million TL was signed.
PRKME - It was announced that the capital of the company's subsidiary, Konya Ilgın, will be increased from 126.2 million TL to 3 TL, and the company will participate in the capital increase.
PEKGY - It was announced that a decision was made to issue debt instruments up to TRY 1.5bn..
SASA - It was announced that a credit agreement was signed with EBRD for 75 million euros for the annual 1.6 million ton PTA pro facility being built in Adana.
SEGYO - It was announced that a decision was made to use credit up to 12 months for 7.5 million dollars from Ziraat Bank Azerbai securities pledge and real estate mortgage will be given as collateral for the credit.

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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.