Morning Report (Trive Yatırım Menkul Değerler )

Houston, We Are Ready For Lift-Off!

The BIST100 closed the final day of the week on a loss of 0.89%, to 7771, but on a very low relative turnover of
just TRY 74bn, with the Conglomerates and the Banks pulling down on the gauge, whereas the REITs managed to
diverge positively. Asian markets are trading mixed.
AKSEN, thanks to disclosure of its new Natural gas powered investment in Uzbekistan, topped the gainers among
the blue-chip stocks, followed by ENKAI and EREGL, whereas BIMAS-HEKTS and SAHOL were the most sold.
For the week, the BIST managed to actually rise by 0.85%, despite the gains being capped by the surge in the 2yr
interest rates, as well as the hawkish Fed-speak. The Banks diverged negatively from their peers, falling by
2.66%, while the Industrials rose by 1.34%, and the REITs and Energy and Aviation stocks, managed to beat the
benchmark.
The TRY weakened by 0.55% and 019% against the USD and the Euro, respectively, but it was the 20% surge in
the 2yr Bond Rates to 41.69%, that stole the headlines, while the 10yr rates rose by a mere 1.34%.
On the Commodity front, Brent fell by a little over 4%, due to global demand concerns, and Ounce and Gram
GOLD retreated noticeably by 2.75% and 2.23%, due to Central Bank policy makers’ statements that the fight
against inflation is not over, and rate hikes may be necessary to contain rising prices.
As of Friday’s session closing numbers, the TRY is trading flat against the USD at 28.56, but slightly stronger
against the Euro at 30.50, and the DXY is also relatively calms at 1.0584, after rising by around 3/4s percent last
week. The 5yr CDS rates are also trading slightly higher this morning at 378.20.
On the commodity front, Brent is trading at USD 81.43, and ounce and gram GOLD are at USD 1937 and TRY
1778, respectively.
Construction costs rose by 2.46% on a monthly, and 67.93% on an annual basis.

AGENDA:

The local macro news flow will kick-off today with the Current Account Deficit and Retail Trade figures, and
followed by the Central Gov’t Budget Balance, Home Sales Figures, Weekly Change in Non-Resident
STOCK/BOND Holdings, Home Price Index, and the Expected 12-month inflation estimate (Prior: 45.28%).
The US Inflation readings will top all other likely macro releases this week, expected at 0.1% m/m and 3.3% y/y,
and 4.1% when excluding Food and Energy, as well as the Industrial Production figures, Building Permits and
Housing Starts,
The Eurozone will also disclose its Inflation Figures and Growth, while Germany will disclose its ZEW Index and
Growth. As for Asia, Japan will disclose its GDP Growth Rate, Trade Balance and Industrial and Capacity
Utilization Rates, while China will publish its IP and Retail Sales Figures. ECB President Lagarde will also be
speaking on the 16th of November.

CORPORATE:

ALARK: Alarko Holding A.Ş. has signed a Memorandum of Understanding with the Akimat of Shymkent city,
Republic of Kazakhstan, to collaborate on greenhouse investment projects in Shymkent.
KONTR: A $14.1 million contract has been signed for the construction of a High Voltage Transformer Center
overseas.
KCHOL: The battery cell production investment in Ankara, involving Ford, LG Energy Solution, and Koç Group, has
been postponed due to current electric vehicle market conditions.
TUPRS: The company plans to apply for approval to issue Turkish Lira-denominated Bonds and/or Commercial
Papers, up to TRY 10 billion, with maturities of up to 5 years, for sale to qualified investors.
EGGUB: Fertilizer production has been temporarily halted due to soaring global raw material prices and an
unexpected domestic demand drop

 
 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.