TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

• The BIST suffered heavy losses yesterday, observed across the board, falling by 1.26% to 5435, and turnover of TRY 101.4bn, due to profit-takings, as well as the increase in the price of Futures’ contracts, causing for investors to make adjustments to their positions.
• The Banks fell by 1.26%, thus at par with the benchmark, whereas the Industrials saw losses near 2%i and the REITs were the most sold, falling by a little of 2.54%. Looking at a broader perspective, the Energy stocks faced profit-takings after President Erdogan announce the new “surprise,” which was the new natgas discovery in the Black Sea, but his statements to keep fertilizer and feedstock prices was not a very pleasant “surprise”, triggering sell-offs in the sector stocks, such as BAGFS (-7.15%); TKFEN (-5.94%); HEKTS (-4.27%) and GUBRF (-3.90%).
• KOZAL, thanks to its 2000% capital increase, topped the BIST30 most bought stock listings, and was followed by TCELL and TTKOM, whereas TKFEN, SASA and GUBRF were the most sold.
• Today, we expect the BIST top open positively after yesterday’s harsh sell-offs.
• As of yesterday’s session close, the TRY is trading a tad stronger against the USD at 18.69, after seeing the 18.73 levels yesterday, and flat against the Euro at 19.89. whereas the DXY has also risen slight to 104.25. The CDS rates are currently trading flat at 519. The 2yr bond yields edged 29bps higher yesterday to 9.81%, and the 10yr rates by 17bps to 10.49%.
• On the commodity front, Brent has fallen to USD 84.70, after its knee-jerk reaction seeing USD 86 ticker, due to Russia banning oil exports to countries that implemented a price cap from Feb. 1, 2023 for five months, those being the G7, The EU and Australia, agreeing this month to a USD 60 per barrel price cap on Russian seaborne crude oil effective as of Dec. 5, 2022.
• Ounce and gram GOLD prices are trading lower at USD 1090 and 1812, respectively.
NEWS FLOW:
• HOUSING: According to the daily Hurriyet, the government is preparing to announce a new housing project, geared towards the middle-upper middle-class segment. Positive for EKGYO and SNGYO.
• White-Goods: In November, main product sales fell by 3%, however domestic sales rose by 19%.
• THYAO: Speaking to the daily Dunya, Head of the BOD, Mr. Ahmet Bolat stated that in 2022, the Airline company revenues reached USD 18bn, and that they made a net export of USD 14bn, and for 2023, they aim to increase this figure to USD 17bn.
• QUAGR: Disclosed that it has received a notice that a limited tax audit will be implemented regarding its 2018-19 and 20 financials.

AGENDA:
• On the local front, there are no major macro releases, whereas Japan will release the IP figures, and the US, THE Pending Home Sales figures.

 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.