Mornıng Report (Trive Yatırım Menkul Değerler )

• The BIST100 went into the long Eid break on a happy note, closing 0.59% higher at 9814, and turnover of TRY 44.4bn, the low turnover due to the half-day trading on Tuesday.
• The Banks and Energy stocks led the gains, rising by 1.45% and 1.81%, respectively, whereas the Transportation stocks lagged their peers, rising by a mere 0.24%, attributable to both rising fuel prices, as well as the increasing tension in the Middle East, that came to perhaps an inevitable climax yesterday, with Iran’s drone and missile attack on Israel. Will Israel opt to retaliate back will surely keep the markets on their toes.
• TAVHL-AKSEN and TUPRS were the most bought BIST30 stocks, whereas SAHOL-BIMAS and ENKAI weighed down on the gauge.
• As of print, the TRY is trading weaker against both the USD and the Euro at 32.40 and 34.56, respectively, while the DXY has retreated slightly to 105.96.
• The 2yr Bond rates closed unchanged at 43.58%, while the 10yr rates fell by a mere 4bps to 27.19%.
• On the commodity front, Brent is trading calm this morning at $89.51, amid Iran’s statements that its retaliation for the Israeli attack on its Damascus Embassy was concluded, thus refraining from further escalating the tension, however, GOLD prices have risen to $2359, Goldman Sachs coincidentally raised its year-end target price to $2700 from $2300.
• The World Bank reduced Türkiye’s growth rate for 2024 and 2025 to 3.0% and 3.6% from 3.1% and 3.9%, respectively.
AGENDA
• This week, the local weekly menu will kick-off with the Unemployment Rate and Budget Balance, followed by the Retail Sales Figures, Current Account Balance, and conclude with the Home Sales and Inflation Estimate Survey.
• On the International front, US Core Retail Sales, Building Permits, Industrial Production, Capacity Utilization Rate, Inflation, The Beige Book, and Weekly Jobless Claims will be disclosed, while the Eurozone will be releasing the Industrial Production, Germany’s ZEW Index, Inflation, and Current Account Balance.
• Please note that the IMF and World Bank meetings will be held this week, and attended by both the Treasury and Finance Minister, Mr. Mehmet Simsek, as well as the CBRT Governor, Mr. Fatih Karahan.
CORPORATE NEWS
• THYAO/PGSUS: Disclosed that they have cancelled their flights to Iran-Jordan-Lebanon and Iraq, due to rising tension in the area.
• ANSGR: Disclosed that its 3m24 gross premiums rose by 80% y/y to TRY 16.5mn.
• CANTE: Disclosed that it has signed a share purchase agreement for the acquisition of 65% of Denarius Pumping Services LLC based in Florida USA (which owns 100% of Denarius Pumping Services de Venezuela C.A), for a total amount of USD 5.2 Mn for providing services and works necessary for the extraction of oil for private and public companies in Venezuela. Denarius has 25 years of sector knowledge, with no financial liabilities and total assets of c. USD 52.2 Mn.
• AGESA and AKCNS will distribute gross TRY 1.66 and TRY 6.00 per share dividends 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.