TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

• Erdogan received 52% of votes in the second round on Sunday and has won re-election, according to the Supreme Election Council.
• Today, we expect the BIST to open positively, spearheaded by the government contracted stocks. As such, firstly, amid Friday’s Canal Istanbul tweet by President Erdogan, we expect EKGYO and the Cement stocks, especially AKCNS, to perform well, as well as TRGYO and other Cement stocks. We would also favour ASELS, TTKOM and THYAO, as well as the Mining stocks, KOZAL, and KOZAA, and the fertilizer company GUBRF to fare better than their peers. We accordingly would expect an overhang on the KCHOL stocks, as well as DOHOL, ISCTR and BIMAS.
• On the last day of trading of the week, and heading into yesterday’s Presidential elections, the BIST soared by 3.45% to 4581, with a turnover of TRY 56.5bn, led by the gains in the REITs, and Aviation stocks, whereas the Banks and the Energy stocks lagged behind their peers.
• EKGYO, ASELS, PGSUS and THYAO were the most bought BIST30 stocks, whereas GUBRF, BIMAS, and ISCTR lagged behind their peers.
• For the week, the BIST100 returned on average 1.75%, with the REITs and Energy stocks soaring by 6% if the status quo is intact, and the Industrials rose by 2.62%, whereas the Banks fell by 0.71%, and the Conglomerates fell by a little over 1%. The USD strengthened by 0.81% and the Euro by 0.06% against the TRY. Ounce GOLD fell by 1.58% for the week.
• EKGYO, ALARK, and YKBNK led the gains at the BIST30, whereas SASA, ENKAI and TOASO were the most sold.
• As of Friday’s close, the TRY is trading weaker against the USD at 20.03, and weaker against the Euro at 21.50, whereas the DXY is lower this morning at 104.11.
• On the Bonds’ side, the 2yr rate rose by 101bps to 11.12%i whereas the 10yr rates were flat at 9.09%.
• Brent is trading slightly higher today at USD 77.51, and ounce and gram GOLD are flat at USD 1947 and TRY 1254, respectively.
NEWS FLOW:
• PENGD: Disclosed that it has signed a €29.6mn agreement with German discount store Lidl to procure various pickled and preserved products.
• EKGYO: Disclosed that it has signed a TRY 2.2bn infrastructure agreement in Arnavutkoy/Istanbul.
• ASUZU/KCAER/TRGYO will distribute gross TRY 2.38/0.22/ and TRY 0.20 dividends respectively.
AGENDA:
• On the local front this week, the Economic Confidence, GDP, PMI, and change in Weekly Foreign STOCK/BOND holding will be released, whereas on the international front, the US Confidence Board Confidence Index, the Beige Book, ADP, PMI and NFP will be released, whereas the Consumer Confidence Index, PMI, Unemployment, ECB meeting summary notes and the Chinese PMI figures will be released. Please note that the US markets will be closed today in observance of Labour Day.

 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.