TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

• The BIST100 pared the previous week’s 6.68% losses by closing last week 10.14% higher, led by the gains in the Mining, Transportation, and Banking stocks. The benchmark closed Friday 1.25% higher at 5490, with a turnover of TRY 104bn, thanks to the hungry appetite in the Banking stocks, rising by 5.62%.
• Thus, the top 3 spots at the BIST30 were taken by AKBNK, ISCTR and GARAN, with TCELL coming in 4th, whereas DOHOL, ARCLK and THYAO found themselves at the bottom of the BIST30 standings.
• The TRY traded flat last week against the USD, while depreciating by 0.33% against the Euro, and on the commodity front, Brent surged by 2.47%, whereas ounce and gram Gold rose slightly by 0.33% and 0.42%, respectively.
• Today, we expect the positive mood from last week to spill-over to today.
• As of Friday’s close, the TRY is trading flat against the USD at 18.80 but continuing to weaken against the Euro at 20.49. The 2yr bond yields fell by 6bps to 10.19%, whereas the 10yr yields were flat at 10.13%.
• On the commodity front, Brent is trading calm at USD 87.65, and both ounce and gram GOLD are flat at USD 1927 and TRY 1165, respectively.
• Speaking at Davos, IMF Managing Director, Georgieva stated that the global “outlook is less bad than we feared a couple of month ago.”
• US Treasury Secretary Janet Yellen has warned that the United States could see a recession and "cause a global financial crisis" if it defaults on its national debt as lawmakers grapple over raising the debt limit.
• Please note that ARCLK will kick-off the 4q22 financial season, and ECH Head Christine Lagarde will be speaking tonight after the markets close.
NEWS FLOW
• HKTAS/SASA: The CMB has extended the ban on short-selling and margin trading for another month.
• ENKAI: Disclosed that its shareholder, Ali Gulcelik, has made 30mn shares untradeable at the BIST
• VERUS/MAGEN: MAGEN disclosed that it will purchase 30.4% share of VERUS’s subsidiary Enda Enerji for TRY 1bn.
AGENDA:
• On the local front this week, The Consumer Confidence Index will be released, as well as the Capacity Utilization Rate, and the CBRT Inflation Report, whereas on the U.S. side, PMI, Non-Durable and Durable Goods Orders, Pending Home Sales figures, and the Michigan Consumer Confidence numbers will be released.
• The Eurozone will be tracking the PMI and President Lagarde’s speech on Friday, and Germany will be disclosing the IFO Index. Please note that China will be closed this week celebrating the Lunar New Year.

 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.