TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

• The BIST opened the new week with a heavy appetite, opening the new week on a gain of 3.40% at 5092, with a turnover of TRY 55bn, led by the gains in the Transportation and Energy stocks.
• HEKTS closed limit-up, and thus topped the BIST30 top gainers’ list, and was followed by EKGYO and ODAS, whereas though there were no blue-chip stocks in the negative, FROTO, KOZAA and TOASO lagged behind the benchmark.
• Today, we expect the buying appetite to continue, albeit on a lesser appetite than yesterday, parallel to the global markets.
• As of yesterday’s close, the TRY is trading flat at 19.27 against the USD and calms against the Euro at 20.92, whereas the DXY is trading slightly lower at 102.32.
• On the commodity front, Brent is trading a tad higher at USD 84.60, and ounce and gram GOLD are trading higher this morning at USD 2000 and TRY 1240, respectively, due to both the China-Taiwan tension, as well as the fall in the DXY.
• Yesterday, the February current account deficit came in higher-than expected at USD 8.78bn, vs the Bloomberg estimate of USD. 8.45bn, thus the 12mth CAD increased to USD 51.9bn.
• February Unemployment rose to 10% that is 40bp above expectations, vs 9.8% in January. Workforce participation rate unexpectedly dropped down from 54.1% to 53.6%. Employment figures do not have any implications on the stock market.
• This morning, the Chinese inflation figures came in below expectations at 0.7%, triggering sell-offs at the Shanghai Composite.
• Japanese markets are trading considerably higher today, after the new BOJ Chief vowed to stick to ultra-loose monetary policy.
• Please recall that yesterday we published our GRSEL “BUY” Report, with a 12mth target price of TRY 29.10, thus representing a 79% upside potential. Please get in touch with us if you would like to find out more about this personnel and student transportation company.
NEWS FLOW:
• AKGRT: Disclosed that its March premiums rose by 142% to TRY 2.1bn, and that its 1Q23 top-line rose by 108% to TRY 5.2bn
• AGESA: Disclosed that it will provision 1.8mn shares, roughly TRY 750mn for share buyback program.
• EKGYO: Disclosed that it has signed TRY 2.7bn and TRY 3.7bn agreement with the Ministry of Housing and Environment to build homes in the earthquake-hit city of Adiyaman.
• SMRTG: Disclosed that it has signed a TRY 84.3mn deal with a local company.
• SUWEN: Disclosed that it will increase its registered capital to TRY 300mn from TRY 100mn.
• AGHOL: Disclosed that it has increased its gross dividend payment to TRY 0.82/share from the previous TRY 0.61.
• AKSA: Will distribute gross TRY 2.41/share dividends today.
AGENDA:
• On the local agenda, the February Industrial Production figures will be released (-0.4% expected due to the earthquakes), whereas the Eurozone will be releasing the Retail Sales, and the IMF will be publishing its much-awaited World Economic Outlook Report.
 
 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.