Mornıng Report (Trive Yatırım Menkul Değerler )

• Despite a rather slightly lower-than expected negative opening, the selloffs at the BIST100 accelerated towards the end of the trading session, causing the BIST to close on a loss of 1.37% at its lowest level of the day, which was 9380, and on a turnover of TRY 111bn.
• The Energy stocks were yesterday’s best performing stocks, rising on average 0.98%, and the Banks and REITs also managed to decouple positively from their peers, while the Transportation stocks, specifically the Aviation stocks were the most sold, due to the escalation of the tension in the Middle East, causing for both PGSUS and THYAO to halt their flights in the region. The Industrial and Conglomerates also had a hand in pulling the gauge lower yesterday.
• AKBNK-ALARK and ODAS were yesterday’s best performing blue-chips, as opposed to PGSUS-TAVHL and HEKTS. On the broader picture, KCAER and CANTE performed well and closed limit-up, while DOAS recorded an impressive 4.90% gain. AEFES-VESBE and CCOLA faced strong selloffs at the BIST100.
• As of print, the TRY is trading flat at 32.43 against the USD, but a tad stronger against the Euro at 34.43, while the DXY has risen slightly to 106.26.
• Both the 2yr and 10yr Bond rates closed higher by 239bps and 4bps to 44.62% and 27.20%, respectively.
• On the commodity front, Brent has risen to $90.16, parallel to the tension in the Middle East, and GOLD is continuing its climb, currently at $2386.
• In March, the budget posted a deficit of TRY 209bn, whereas the Unemployment Rate fell to 8.7% from last month’s 9%.
• UBS strategists stated yesterday that the combination of strong US growth and sticky inflation is raising the odds the Federal Reserve hikes rather than cuts interest rates, bringing borrowing costs to as high as 6.5% next year
AGENDA
• Retail sales figures will be disclosed on the local front today, while on the International side, Germany will disclose its Zew Index, and the US will release its new home starts and Industrial Production Figures, as well as Powell’s speech.
FINANCIAL RESULTS
• GRSEL: Disclosed an annual net profit in 2023 of TRY 1.08bn, vs TRY 282mn in 2022. EBTIDA came in at TRY 988mn vs TRY 432mn 2022, thus an annual increase of 129%.
CORPORATE NEWS
• PGSUS: Total passenger count rose to 2.72mn in March 2024, vs 2.14mn y/y, thus an increase of 27%. The load factor rose by 4.5pp to 87.5%. Domestic passenger count rose by 22% to 1.01mn from 0.83mn in 2023, while International passenger count rose by 31% to 1.71mn from 1.31mn.
• KCAER: Disclosed that in order to support the Company's business volume in the MENA region and further increase our global competitiveness to gain more market share from all investments in the region, especially the Neom city project, it was decided to start feasibility studies for a steel profile factory investment in Saudi Arabia.
• AKGRT: Disclosed that its gross premiums rose by 85% in 3m24 to TRY 9.55mn.
• EREGL and ISDMR will both distribute gross TRY 0.50 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.