TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

• The BIST opened the new week on a slight loss of 0.10% at 4958, and turnover of TRY 127.2bn, observing reactionary buybacks towards the close of the session, whereas the US markets fell sharply due to unexpectedly strong ISM non-manufacturing figures for November, followed by solid 1% growth in factory orders.
• The Banks dragged the benchmark lower, due to Moody’s statement that Turkish and Ukrainian banks face a "very high" risk from restrictions on capital flows, weak international reserves, and a high level of foreign currency debt, whereas the Aviation stocks continued to outperform their peers, thanks in part to the flagship carrier, THYAO.
• As such, KRDMD closed limit-up and topped the BIST30 highest earners’ list, thanks to the easing of Covid restrictions in China that pushed commodity prices higher, and was followed by THYAO and TTKOM, whereas meme stock SASA closed limit-down, and KOZAA faced profit-takings, whereas YKBNK led the sales among the Banks.
• Today, we expect the BIST to open slightly higher supported by the news flow that the Turkish Wealth Fund will be buying stakes from Kardemir (KRDMD).
• As of yesterday’s close, the TRY is trading flat against the USD at 18.63, whereas it has strengthened against the Euro to 19.55
• The 2yr yields rose by 37bps to 10.85, whereas the 10yr yields were unchanged at 10.67%. The DXY is trading at 105.15.
• On the commodity front, Brent has fallen even deeper to USD 83 triggered by the strengthening of the DXY, whereas both ounce and gram GOLD prices are trading lower USD 1771 and TRY 1061, respectively.
• Yesterday, the November inflation rate fell to 2.88% vs the consensus 3.00 m/m and to 84.39% on a y/y basis.
AGENDA:
• On the local front, the CBRT November inflation assessment will be released, whereas the German October factory orders will be watched.

 
 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.



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