TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

THE TROUBLES GET COMPOUNDED
o The BIST100 closed the week on a loss of 3.33% at 7511, with a turnover less than TRY 100bn at TRY 97.7bn, accruing the total losses for the week at 7.43%, and around 11.5% in the last two weeks. The Mining, REITs and Banks' losses on Friday were greater than the benchmark, while the losses at the Energy and Transportation stocks were less than their peers.
o At the BIST30, ODAS and GUBRF were the only 2 stocks that managed a positive closing, while KOZAA, KRDMD and ISCTR were the most sold.
o The main highlight last week was US President Joe Biden's visit to Israel, that coincided with the tragic bombing of the hospital, that left many dead, and Friday's warning by Israel for the evacuation of more hospitals in the area only spread the wildfires further. Despite the rise in the GOLD prices, the Mining stocks lost 14.13% in value, and the Industrial and Banks lost 8.63% and 7.75%, respectively, while the Conglomerates and Transportation stocks lost 4.37% and 6.78%, respectively, a littler less bleaker than their peers, if one may dare to argue so.
o The TRY lost 0.68% in value against the USD and 1.63% against the Euro, and the 2yr and 10yr rates also rose by 10.51% and 2.09 for the week, respectively. On the commodity front, Brent rose by 1.44%, and ounce and gram GOLD surged by 2.51% and 3.21%, respectively.
o As of Friday's BIST closing, the TRY has weakened to 28.05 against the USD, but is trading flat against the Euro at 29.70, while the DXY is at 106.30.
o On the commodity side, Brent is trading lower at $90.14, and ounce and gram GOLD have fallen slightly to $1975 and TRY 1782, respectively.

AGENDA
o The local agenda will kick-off with the Consumer Confidence figures, and followed by the Capacity Utilization Rate, Real Sector Confidence, the One-Week Repo Rate (BBGe: +500bps), Net Change in Non-Resident STOCK/BOND Holding, and Bloomberg Turkey Economic Survey. Please note that the Treasury and Finance Minister, Mr. Mehmet Simsek will be visiting the UAE, Qatar, and Saudi Arabia, and tangible investment details from the UAE's pledged $50bn investment package are expected to be announced in this trip.
o On the international side, the US will be releasing the Trade Balance, New Home Sales, Quarterly GDP Growth Rate, Durable Goods Orders and Personal Income Expenditures, such as the CORE PCE figures, while the Eurozone will disclose the Trade Balance, the ECB policy Rate, and Germany will release beside the Trade Balance, the IFO Economic Confidence Levels. Fed Chairman Jerome Powell will be speaking on Wednesday, as well as various Fed Presidents throughout the week.
3Q23 RESULTS
o ARCLK: Disclosed in-line net profit of TRY 1bn.
CORPORATE
o DESA: Disclosed that it has closed down its Edirne store, while opening a Samsonite store at the Historia Mall.
o POLHO: Disclosed that it's subsidiary Polisan Hellas will receive €1.5mn advance payment due to recent floodings.
o TKFEN: Disclosed on Friday that it will merge its real estate subsidiaries under a new company.



 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.