TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

• The BIST was on full risk-on mode yesterday, rising by 4.60% to 4781, and high turnover of TRY 125.2bn, as the investors once again flocked back to the meme stocks, with SASA, HEKTS, and KONTR all closing limit-up.
• The Banks trailed the general buying appetite, whereas the Industrial and Energy stocks outpaced its peers.
• SASA, KOZAL and TUPRS led the gains at the BIST30, whereas only ARCLK closed the day in the red, and the buying appetite on TOASO and YKBNK seemed to have lessened after the said stocks’ recent outperformance. We also noticed an interesting appetite for THYAO shares.
• Today, we expect the buying appetite to continue, though investors may not have yesterday’s appetite.
• As of yesterday’s close, the TRY is trading flat against the USD at 18.62, and the DXY has fallen to just north of the 107.10 level. On the yield’s side, the 2yr rates rose slightly by 3bps to 11.36%, whereas the 10yr yields fell by 45bps to 10.88%. The CDS rates fell by 20pts to 563.
• Now switching our attention to the commodities, Brent has fallen to USD 87.60, despite having had risen to USD 88.80 yesterday, and both ounce and gram GOLD prices have declined to USD 1738 and TRY 1038, as of print.
• Federal Reserve Bank of Cleveland President Loretta Mester said she and her colleagues were fully focused on tackling high inflation and would use their tools to get the job done.
• Saudi Arabia, the surprise 2-1 winners over Argentina yesterday, is set to deposit $5 billion at Turkey’s central bank-the news confirmed by the Turkish Finance and Ministry, as to keep the TRY stable.
• Iran disclosed yesterday it has started expanding uranium enrichment to 60 percent purity at an underground site in Fordow days after foreign governments accused Tehran of failing to cooperate with a U.N. investigation into its past nuclear work. This increase puts Iran to develop uranium enriched weapons-grade threshold of 90 percent.
NEWS FLOW:
• SASA: Disclosed that it has established a subsidiary to carry out transactions in global credit and capital markets, with a TRY 20mn capital, thus enabling it to acquire subsidiaries and affiliates domestically and abroad.
• SASA and HEKTS shares will be subject to gross settlement until Dec 22.
• EKGYO: Disclosed that it has received a top bid of TRY 4.82bn to develop land in Kemerburgaz, Istanbul.
• GESAN: Disclosed that it was awarded a USD 1.5mn solar-power roof contract from Mais automotive for its facilities in Bursa.
• GOODY: According to the Official Gazette, an anti-damping investigation will be opened against Chinese imported tires used in heavy-equipment vehicles, agriculture and machinery. This may reflect positively onto GOODY shares today.
• GOODY: Disclosed that production will be halted from Dec 12-23 due to inventory count at its Adapazari and Izmit plant.
AGENDA:
• There are no major local macro releases, however, the Treasury and Finance Minister will meet with investors today, whereas on the U.S. front, Minutes of the Federal Reserve’s Nov. 1-2 meeting, US MBA mortgage applications, durable goods, initial jobless claims, University of Michigan sentiment, new home sales, and both U.S. and Eurozone PMI figures will be released.

 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.