TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

• The BIST closed the first trading session, kicking the door wide open, with a gain of 2.76% to close at a new historic peak of 5661, and turnover of TRY 114.2bn, thanks to the gains in the Transportation, as well as the REITs and CEMENT stocks, ahead of the unveiling of the new housing project geared towards the middle and upper middle-class segment. The Banks lagged slightly behind the benchmark, rising by 2.26%, and the Mining stocks were the best performers, rising by over 7%.
• On the BIST30 side, KOZAL closed limit-up, and was followed by DOHOL and EKGYO, whereas SASA fell by 2%, and was joined at the bottom by TUPRS and KCHOL shares.
• Today, we expect a flat opening at the BIST. The Asian markets have pared their early losses and are trading int eh positive territory, but please recall that Japan is closed, and the gains occurring despite the China Caixin/Markit manufacturing PMI Index declining to 49.0 in December from 49.4 in November, due to the surge in the Covid-19 cases.
• As of yesterday’s close, the TRY is trading flat against both the USD and the Euro at 18.72, and 19.96, respectively, as too is the DXY at 103.49. The 2yr and 10yr bond yields fell by 68bps and 123bps respectively to 9.29% and 8.60%, respectively. The 5yr CDS rates rose slightly to 513 yesterday.
• On the commodity front, Brent is flat at USD 84.32, due to the banks holiday in the UK yesterday, and both ounce and gram GOLD are trading higher at USD 1841 and TRY 1108, respectively, due to the fears that Ukraine’s airstrike against Russian troops will intensify the war.
• European Central Bank Governing Council member Joachim Nagel said additional measures are needed to curb rising expectations of future prices and return inflation to the 2% goal.
NEWS FLOW:
• Turkey: December PMI rose to 48.1 in December vs 45.7 in November, due to the increase in domestic demand.
• ENERGY: Turkey Minister of Energy stated that Turkey will start selling natural gas to Bulgaria for 13 years. The Bulgarian Energy Minister stated that there are negotiations to use 1bn cubic meters of capacity from Turkey LNG terminals.
• FOOD RETAIL: According to Bloomberg, French food producer Cofigeo, has halted production for a month due to rising energy costs.
• ASELS: Disclosed yesterday that it had signed a USD 57.9mn contract.
• AHGAZ: Disclosed that it will increase its paid-in capital by 1150% to TRY 2.6bn.
AGENDA:
• On the local front, the CPI figures will be disclosed, with the consensus expecting the figure to come in at 2.23% m/m, vs the prev. 2.88%, and annual rate to fall to 66.70% from the prev. 84.39% reading, and PPI to increase by 0.74% m/m and 136% y/y, respectively. On the international front, the US PMI figures, and German CPI figures will be monitored.
 
 TFG Istanbul Menkul Değerler A.Ş.
  www.tfgistanbul.com/arastirma-raporlar
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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.