Mornıng Trıve Report (Trive Yatırım Menkul Değerler )

All Eyes Today on US Inflation Figures

The BIST100 opened the week on a sour note, closing the day 2.61% lower at 7568, and with a turnover of TRY
80.8bn, led by the sharp fall in the Banks, with the investors taking their foot of the break and accelerating the
sell-offs. Deutsche Bank also reported that it expects the Turkish bond market will be top investment in 2024.
The Banks were sunk by Citi's downgrade of the sector.
As such, only EKGYO-due to renewed Canal Istanbul project, and THYAO, on the back of its large Airbus purchase
order for 2026-36 years, closed positively among the blue-chip stocks, whereas ALARK-KRDMD and YKBNK were
the most sold. Despite seeing a large buy ticket on ISCTR by a foreign client, ISCTR too faltered to the sell-offs
towards the close, ending the day 1.39% under water.
As of yesterday’s session-closing numbers, the TRY is trading a tad weaker against the USD at 28.61, but slightly
stronger against the Euro at 30.60, while the DXY is calm at 105.72. The 2yr Bond yields closed just 5bps lower to
41.67%, while the 10yr rates tried to play catch up, rising 125bps to 29.06%. The 5yr CDS rates will open the new
day from the 378.80 level.
On the commodity front, Brent is trading slightly higher after its recent nosedive, currently at $82.49, and ounce
and gram GOLD are flat at $1945 and TRY 1789, respectively-after rising slightly during the day yesterday.
The September Current Account Balance beat estimates, giving a surplus of $1.88bn, vs the estimate of $1.4bn
surplus.
Türkiye’s retail sales volumes increased by 13.8% in September on an annual basis.
Goldman Sachs disclosed yesterday that it expects the CBRT to start rate cuts in 3Q24.

AGENDA:

There are no compelling local macro releases expected today, whereas the US CPI figures (+0.1% m/m+3.3% y/y)
will be the key macro release today, tba 16:30 local time, and such, we would probably expect to see tight-range
and cautious trading ahead of the disclosure at 16:30 Turkey time, and Germany will release its ZEW Index as
well today.

CORPORATE:

AKSUE - The funds expected to be obtained from the capital increase will be used for paying financial leasing
debts, increasing net operating capital, and balancing cash flows.
ALFAS - A contract has been signed for the development of storage-integrated RES projects between the
company and Egesa Elektrik and Eyüp Taymur.
ALARK - A request for the registration of 4,350,000 shares for trading on the Stock Exchange was made to the
Central Securities Depository (MKK) by Dalia Garih. ATAKP - It was announced that funds obtained from the
public offering were used to reduce financial indebtedness by 51.3 million Turkish Lira.
ESCAR - It was announced that Mint Elektrikli Araç, a 100% subsidiary of the company, has been granted a
charging network operator license by the EPDK for a period of 49 years.
GESAN - The company won the contract for the purchase of Air Cell & Pavilion Frame Sub-Assembly Work by
Toroslar Elektrik for a total amount of 2.3 million dollars.
KCAER-Disclosed that it plans to increase steel production capacity by 50% on an annual basis to 180k ton/yr,
within 3 months.
PGSUS - In October, the number of domestic flight passengers increased by 8% compared to the same period in
2022, reaching 1.07 million, and the passenger load factor increased by 2.9 percentage points to 88.4%. The
number of international flight passengers increased by 15% to 1.94 million, and the passenger load factor
increased by 0.3 percentage points to 85.8%. The total number of passengers increased by 13% to 3.01 million,
and the passenger load factor increased by 1.2 percentage points to 86.7%. In the January-October period, the
number of domestic flight passengers increased by 8% compared to the same period last year, reaching 9.88
million, and the passenger load factor increased by 2.8 percentage points to 88%. The number of international
flight passengers increased by 27% to 16.93 million, and the passenger load factor increased by 1.1 percentage
points to 83.1%. The total number of passengers increased by 19% to 26.81 million, and the passenger load
factor increased by 1.6 percentage points to 84.8%.
TRILC - It was announced that the licensing process for the Turk İlaç Oksijenli Su Çözelti (500 ml and 1000 ml)
product has been completed, and it has been approved by the Ministry.
THYAO - A decision has been made to purchase a total of 355 aircraft, including 240 firm orders and 115
options, from Airbus between 2026 and 2036.

 
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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.