TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

EQUITY INVESTORS DID NOT MIND WAR ESCALATION
• The BIST100 finally managed to pare its recent losses, closing yesterday 2.27% higher at 8115, but with an unconvincing turnover of TRY 107.6bn. The gains were fairly uniform across the board, with the exception of the Aviation and Service sectors that underperformed the benchmark.
• Today, we expect a negative opening at the BIST, parallel to the risk-off mode in the global markets, and all eyes will be on US President Joe Biden's visit to Israel. However, Egypt and Jordan have cancelled their meetings with President Biden, after yesterday's tragic bombing of a hospital, thus causing for Biden to cancel the Jordan leg of his trip.
• On the BIST30 front, TAVHL-ALARK and EKGYO led the gains, whereas ODAS-BIMAS and KOZAA shares were the most sold.
• As of yesterday's BIST closing, the TRY is trading weaker against both the USD and the Euro at 28 and 29.66, respectively, while the DXY is fell slightly to 106.15. The 2yr Bond rates closed 20bps lower at 27.51%, while the 10yr rates by 9bps to 27.66%.
• On the commodity side, Brent has surged to $90.43 in the wake of the escalation in the Middle East, and ounce and gram GOLD are also trading much higher at $1939 and TRY 1745, respectively.
• The German ZEW Index came in better than expected at -1.1 in October vs. the -9 expectations, thus hinting that the worst may be over.
• Türkiye's Housing Prices have fallen to their lowest level in 1.5yrs, rising by 90.3% y/y, but dropping by 21% when adjusted for inflation. On a monthly basis, prices rose by 5.49%, and the average sqm price was TRY 27,840.
• Israel has issued a travel warning for its citizens to Turkey.
AGENDA
• There are no major macro releases expected on the local front, while the Eurozone CPI figures will be the most important macro data release of the day, as well as the UK's CPI readings, and the US will also release its Housing Start numbers, Building Permits, and the Fed Beige Book, as China will disclose its GDP growth rate, IP and Retail Sales. Lagarde's speech will follow EU CPI announcement at 12PM Istanbul time.
CORPORATE
• BIOEN: In response to recent news and inquiries from investors, the company Biotrend Environmental and Energy Investments Inc. is disclosing that preliminary discussions are underway with potential investors to evaluate strategic options, including financing sources and partnerships. Credia Partners Danışmanlık A.Ş. has been authorized as the exclusive financial advisor for this process. No formal negotiations with potential investors have started yet. Further updates will be provided as the process progresses.
• DOAS: The Energy Market Regulatory Authority has granted a charging network operator license to the subsidiary, Doğuş Şarj Sistemleri Pazarlama ve Ticaret AŞ (D-Charge), allowing the company to operate a nationwide charging network under the D-Charge brand. The goal is to provide electric vehicle charging services across the country. The company also announced that it will distribute gross TRY 5.68 cash dividends on November 24, 2023.
• EKGYO: Disclosed that in 9m2023, it has sold 5007 housing units for TRY 46.4bn, and has already reached most of its 3Q23 target.
• SOKE: The company, Rudi's Organic and Gluten Free Brands Inc., had reached an agreement with the existing partners of Rudi's on September 22, 2023, to acquire a 12.65% stake after a capital increase. Payments planned to be completed within one month from the date of the agreement were finalized, amounting to 87,774,600.00 TL, including a difference of 734,600.00 TL due to exchange rate fluctuations, instead of the initially stated 87,040,000 TL.
• PINSU: Following a preliminary investigation by the Competition Board into the packaged water sector regarding the joint determination of product prices by companies, it has been determined that there is no need to initiate an investigation.
• MIATK: The company has announced a $151.85 million agreement with Destek Bilgisayar for the Atak Prevention System and 3-year maintenance support project under the KKTCD E-Government Project. The company's subsidiary, forming a 50% subsidiary of Enerjey, has completed the establishment procedures for the company named Renawell Energie SRL in Romania.
• NTGAZ: Vangölü Elektrik Dağıtım has issued a Call Letter to the company for the construction of an 18,761 kWp GES (Solar Power Plant) project in Muş.
• ODAS: Disclosed that it's subsidiary, Anadolu Export Maden, has received a negative EIA report for its Yildiz Gold-Silver Mining project.
• ONCSM: Disclosed that it has received a TRY 27.7mn tender at the Antalya Hospital.

 TFG Istanbul Menkul Değerler A.Ş.
  www.tfgistanbul.com/arastirma-raporlar
                           ***
                  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.