Mornıng Report (Trive Yatırım Menkul Değerler )

• The BIST100 ended the final day of the week, going into the Municipal elections on a gain of 0.69% at 9142, and with a turnover of TRY 93.8bn, led by the gains in the Mining and REITs, whereas the Banks took a breather after their recent surge, thus diverging negatively from their peers.
• KOZAA-KOZAL and EKGYO (perceived as one of the biggest beneficiaries if the AKP candidate Kurum ha won) led the gains at the BIST30, whereas GUBRF-KCHOL- and FROTO, were the most sold.
• Last week, the BIST100 and the BIST30 fell by 0.34% and 0.57%, respectively, due to the sharp selloffs at the beginning of the week, as the bounce-back in the last 2 days of the week were unable to list the BIST above water.
• On a weekly basis, the Banks and Transportation stocks rose by 2% and 1.92%, respectively, while the REITs, due to rising interest rates and control on spending, alongside the Service sectors, were the most sold sectors. The Conglomerates managed to rise by 0.75%, whereas the Industrials fell slightly by 0.06%.
• On the Equity side for the week, AKBNK-SASA and SAHOL were the most bought, at the expense of PETKM (due to its dismal financial results), KRDMD, and SISE, as the most sold.
• The TRY weakened by 1.13% and 1.68% against the USD and the Euro, respectively, and on the Bonds’ front, the 2yr yields fell a little over half-percent to 45.44%, whereas the 10yr rates rose by 1.86% to close the week at 26.82%.
• On the Commodity front, Brent rose by 2.05%, and GOLD closed the week 3.13% higher.
• As of print, the TRY is trading weaker against the USD at 32.43, but stronger against the Euro at 34.97, while the DXY is flat at 104.55.
• On the commodity front, Brent is trading higher this morning at $87.12, please note that OPEC+ will be meeting on April 3rd, while GOLD is considerably higher this morning at $2260.
• In the wake of yesterday’s municipal elections, we may see an overhang in EKGYO and similar REIT stocks, as well as the CEMENT stocks. After yesterday’s defeat, the governing AKP party stated that it will adhere to the strict fiscal monetary policies. However, one potential risk for the markets is that the main opposition party, CHP, may make calls for early elections on the back of their strong performance in the elections, managing to increase its presence in other cities, thus creating an uncertainty for markets going forward.
• The Head of the Greek Central Bank, Mr. Yannis Stouanaras, stated yesterday that the ECB could cut rates by a total of 100bps this year, adding however that not everybody in the ECB shared that view yet.
AGENDA
• The CPI figures will be the main macro release this week, (m/m: 3.50%; y/y: 69.05%), as well as the PMI today, REER, Net Change in Foreigners’ STOCK/BOND Holding, the Cash Budget Balance, and the Industrial Production figures.
• On the International front, the PMIs will be announced globally, and our US audiences will also follow the ISM-Durable Goods Orders-ADP-Weekly Unemployment Claims-Non-Farming Payroll Figures, and Unemployment, while the Eurozone will also be disclosing its Inflation figures, Unemployment and Retails Sales Numbers, and ECB Summary Notes.
• The European and UK markets will be closed for trading.
FINANCIAL RESULTS
• HEKTS: Disclosed an annual net loss of TRY 878mn vs a net profit in 2022 of TRY 1.17bn. EBITDA also fell to TRY -254mn vs TRY 2.33bn.
CORPORATE NEWS
• CIMSA: Disclosed that it will distribute gross TRY 1.05 dps share on April 29th.
• Please note that ISCTR and TTRAK will distribute gross TRY 0.29 and TRY 62.96 dps today.

 
 Trive Yatırım Menkul Değerler A.Ş.
  https://www.trive.com.tr/

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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.