TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

• Despite a nervy start to the week after the long weekend, the BIST manage to pare its intraday losses and close in the green by 0.21% to 5023, diverging positively from the global markets, with a turnover of TRY 43.3bn, thanks to the gains towards the close of the session, especially on the back of the Automotive stocks after President Erdogan disclosed the elimination of the Special Commercial Tax on renewed commercial vehicles.
• As such, the Transportation stocks were yesterday’s golden stocks, whereas the Banking stocks continued to lag their peers, by dropping another 0.70%, along with the 1% fall in the REITs and the 1.62% sales in the Mining stocks.
• HEKTS, TOASO and ENKAI led the gains among the BIST30 stocks, whereas ARCK, and KOZAL and KOZAA were the most sold.
• Today, due to the negative mood in the international markets, we expect a flat/negative opening on the home front, followed by a bounce back up at the critical 5000 level.
• As of yesterday’s close, the TRY is trading flat at 19.41 against the USD, and 21.46 against the USD, whereas the 2yr bond rates rose by 016% to 14.35%, but the 10yr rates fell by 0.10% to 12.07%.
• On the commodity front, Brent is trading calm today at USD 82.47, a tad lower after rising to as high as USD 82.81, and ounce and gram GOLD are also flat at USD 1244 and TRY 1993, respectively.
• The German IFO Business climate rose to 93.6 vs the previous month’s reading of 93.2, due to the companies’ improved expectations about the future, but fell short of the 94 expectations, on the back of lacking economic dynamism.
• The waring factions in Sudan have agreed on a 72hr cease-fire to evacuate foreigners. While we do not envisage any spill over to other African countries, it is worth to mention that Aksa Enerji has solid presence in a number of African countries.
• ECB Executive Board member, Isabel Schnabel stated yesterday that a 50 basis are not off the table.
• The Capacity Utilization Rate increase by 1.4ppts to 75.6% m/m, and the Real Sector Confidence Level rose by 2.8pts to 108 m/m. These numbers indicate that the worst is over regarding the negative implications of the earthquakes.
NEWS FLOW:
• BRSAN: Margin trading has been imposed on the stock.
• AKSA: Disclosed that the capacity increase to 9,000 tons from 6,000 production line has been completed.
• EUPWR: Disclosed that is has signed a €1.1 mn agreement with a client in Estonia.
• EKGYO: Disclosed that it has signed a TRY 4.5bn agreement in Adiyaman
• GESAN: Disclosed that it has submitted the lowest bid and has been invited to sign an agreement for Panel and Box in Vangolu Electric grid.
• GRTRK shares will start trading at the BIST on Wednesday, April 26.
• ISDMR: Disclosed that partial production after the February 6 earthquake has begun.
• KAREL: Disclosed that it has signed a 40-month agreement with TCELL and its subsidiaries worth TRY 6bn.
AGENDA:
• On the local front today, there are no major macro releases, whereas the US March New Home Sales, and April Consumer Confidence figures will be released.
• TAVHL is expected to release its 1Q23 figures after the market closes today (Est. NI TRY: -610mn)

 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.