TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

BIST LIKELY TO REVERSE FRIDAY'S SOUR MOOD
" The BIST ended Friday on a loss of 0.83% to close at 5093, and turnover of TRY 48.8bn, dragged down by the Banks and the Transportation stocks, whereas the European markets closed higher. US market on the other hand was down due to recession worries as well as Chris Waller's comments that more rate hikes are needed by FED. Strong US earnings' figures from JP Morgan, Citigroup and Well Fargo, all beating estimates did not help much to turn the markets up. 25bp rate hike probability of FED in May 3rd meeting increased to 81%.
" KOZAA, BIMAS and TCELL managed to diverge positively from their peers, and thus topped the BIST30 highest gainers' list, only followed by FROTO and AKSEN in the positive territory, whereas ODAS, ALARK and THYAO, closed were the most sold among the blue-chips.
" Despite Friday's set-back, the BIST managed to close the week overall 3.42% higher, buoyed by the in-line inflation reading from the US, with the Banks rising 3.58%, and the Conglomerates and Industrials by 3.03% and 2.63% respectively, whereas the highest gainers were the Mining and Transportation stocks.
" The TRY weakened against the USD and Euro by 0.57% and 1.23%, respectively, whereas the 2y and 10yr bond yields soared by 7.76% and 19.38%, respectively to close at 15.55% and 12.32%, respectively. Please note that the 2yr rates peaked at 17.44% on Wednesday.
" On the commodity front, Brent rose by 1.72% and whereas Ounce fell by 0.17%, Gram GODL rose by 0.41% due to the depreciation of the TRY against the greenback.
" Today, we expect a flat/slightly up opening at the BIST.
" As of Friday's close, the TRY is trading flat against the USD at 19.37, but not after having seeing 19.57 in the early hours, and is trading at 21.29 against the Euro.
" On the commodity front, Brent is trading flat at USD 86.05, whereas ounce and gram GOLD prices have edged slightly higher to USD 2007 and TRY 1250, respectively following Friday's harsh sell-off.
" Today, the Istanbul Financial District will be formally opened.
" Today, ECB President Christine Lagarde and Atlanta Fed President Bostic will be making speeches.
NEWS FLOW:
" The Competition Board has initiated a preliminary investigation against speculative and/or supply restrictions against red meat producers.
" EKGYO: Disclosed that it has signed a TRY 4.5bn agreement with the Ministry of Housing and Environment for Adiyaman.
" IZDMC: Disclosed that it has applied for the IPO of Izmir Enerji.
" KOZAL/KOZAA/IPEKE: The Court disclosed that in order to protect the rights of investors from the on-going hearings for the last 8 years, the shares of the shares of the company and subsidiaries have been transferred to the Treasury.
" RYSAS: Disclosed that it has revised down its paid-in capital increase to 100% from the previous 140% bonus issue.
" SUNTK - It has been announced that the company plans to establish a production facility of approximately 16.000 m2 on the land it owns in Torbalı OSB.
" SUNTK - Within the scope of the repurchase of company shares, 8,000 shares were bought back at a price range of 39.74 - 40.00 TL.
AGENDA:
" On the local front this week, the Home Sales Figures and Central Gov't Budget Balance will kick-off the short week, followed by the House Price Index, Expected 12-month Inflation, Consumer Confidence and Net Weekly Change in Foreign STOCK/BOND Investments. Please note that the 1q23 Quarterly Earnings' will kick off this week, and that markets will close at noon on Thursday, and will be closed Friday in observance of the end of the Ramadan.
" On the international side, US New Homing Starts, Fed Beige Book, Second-Home Sales, PMI, and the Trade Balance will be released, and the Eurozone will disclose its PPI, Consumer Confidence Index, PMU and Trade Balance, whereas other notable global macro releases are the German ZEW and the Chinese GDP Growth, IP and Retails sales figures.


 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.