TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

BIST CONTINUES UPTREND THANKS TO EVERYTHING CONSTRUCTION-ALL EYES ON GLOBAL PMIs
" The buying mood after the BIST re-opened on the back of the catastrophic earthquake continued yesterday, as the BIST extended its gains by a further 2.43% to close at 5149, and turnover of TRY 73.5bn, thanks to the gains in the REITs, CEMENT and CONSTRUCTION, and CONSTRUCTION material derivatives, such as CERAMIC stocks and ALUMINUM, etc.
" The Banks were sluggish, rising by a mere 0.24%, whereas the REITs and Industrials outperformed their peers.
" GUBRF, KRDMD and EKGYO closed limit-up, whereas TTKOM, ASELS, and KOZAA lagged behind their peers.
" Today, we may see a flat/negative opening at the BIST, as investors weigh continued high interest rates from the Fed, however, we believe that the local CONSTRUCTION, STEEL and CEMENT stocks will continue to rise in the wake of the earthquakes.
" As of yesterday's close, the TRY is trading flat at 18.86 against the USD, but stronger against the Euro at 20.12, and the DXY has risen over the 104 level by 5pts, as of print. The 2yr bond yields rose by 10bps to 11.18%, whereas the 10yr rates went the opposite direction by 18bps to 10.49%. The 5yr CDS rates rose by 3pts yesterday to close at 572.
" On the commodity front, Brent has fallen to USD 82.82, and both ounce and gram GOLD prices are trading lower at USD 1838 and TRY 1114, respectively.
" Goldman Sachs' economists have raised their forecast for the ECB's deposit rate to 3.5%, after the hawkish stance from Executive Board member Isabel Schnabel.
" President Recep Tayyip Erdogan has announced that Turkey will begin constructing almost 200,000 homes as early as March in areas devastated by twin earthquakes that hit the southeast of the country two weeks ago.
" The Consumer Confidence level in February rose to 82.5 from the previous month's reading of 79.1, thus its highest reading since February, 2021.
NEWS FLOW:
" KOZAL: Disclosed that it will allocate TRY 700mn for share buyback/KOZAA will make TRY 200mn, and IPEKE TRY 100mn
" AKSA: Disclosed that it will allocate TRY 20mn for share buyback
" KIMMR: Disclosed that it will allocate TRY 20mn for share buyback
" ULUUN: Disclosed that will allocate TRY 75mn for share buyback
" GENIL: Disclosed that it will make up to TRY 5mn investments in the wake of the earthquakes
" TURSG: Disclosed that its premiums rose by 66% in January to TRY 3.4bn
" ARCLK: Disclosed that it will distribute gross TRY 2.66 cash dividends in 2 instalments, a dividend yield of 2.41%.
AGENDA:
" There are no major local macro releases expected today, whereas on the international front, the German and Eurozone PMI figures will be released, as well as the German ZEW Index, whereas the U.S. will be disclosing their PMI and January existing home sales 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.