TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

• The BIST100 traded akin to a seesaw yesterday, opening the day positively, but then paving to volatile trading and falling down again, before managing to close slightly higher. The private stocks started the day with investor interest-especially ISCTR shares, ahead of the Nationalistic Party leader’s support for the opposition party, however, the postponement of the announcement from 9GMT to 11GMT, and later to today, at 9GMT, caused for the stocks to pare their early morning gains.
• As such, the BIST managed to end the day in the green, rising by 0.11% to 4471, but on a low turnover of just TRY 39.8bn, as most investors are cautiously on a wait-and-see mode, whereas the European and US markets closed negatively as the debt-ceiling saga continues. This low trading volume, which is half that of a normal day, can also be attributed to brokerage houses’ cutting down their loans for leveraged trades as well as opportunity cost on 40% yielding TRY deposits, in our view.
• The Banks managed to end their recent slump, by a slight increase of 0.20%, whereas the Energy stocks were yesterday’s biggest gainers whereas the Mining stocks, suffered profit-takings.
• Now, looking at the stocks more specifically, ODAS topped the BIST30 list, and was followed by SASA and HEKTS, whereas KOZAA, KOZAL and EKGYO faced profit-takings. KCHOL’s potential sale of TATGD also caused for the latter to close limit-up, whereas despite signing a notable agreement, TKFEN pared most of its early gains as it continues to fail to attract long-term holders.
• Today, we may experience a Deja-vu opening, with a positive opening led by ISCTR, ahead of the Nationalistic Ata Party’s leader, Umit Ozdag’s speech at 9gmt, speculated to announce his support for the opposition party leader, Kemal Kilicdaroglu.
• As of yesterday’s close, the TRY is trading flat at 19.86 against the USD, but a tad weaker against the Euro at 21.41, whereas the DXY has regressed slightly to 103.44. On the Bonds’ side, the 2yr yields fell by 5bps to 8%, whereas the 10yr yields rose by 10bps to 9.10%.
• On the commodity front, Brent has risen to USD at USD 77.60, as Saudi Arabia’s Energy Minister warned market speculators to “watch out” ahead of the next OPEC+ meeting on June 4th. And ounce and gram GOLD prices are flat at USD 1978 and TRY 1263, respectively.
NEWS FLOW:
• ASTOR: Disclosed that it signed a USD 32mn agreement in Ukraine for 13 autotransformer sales.
• DOAS: Disclosed that it is in talks with a local buyer regarding the sale of Dogus Automotive Marketing’s 33k sqm land in Bursa.
• KCAER: Disclosed that production will resume at its A2 factory after being on hold for 1 month due to the implementation of new investments.
• KONTR: Disclosed it has signed an TRY 84.8mn agreement with Smart Solar Energy.
AGENDA:
• On the local front, the May Capacity Utilization Rate will be announced, whereas the major headline on the global front will be the FOMC minutes, and Germany will be announcing its May IFO Business climate.

 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.