ANALİZ-Morning Report(Trive Yatırım) [FNC-NEWS]

• 25.04.2024 08:42

https://news-files.foreks.com/attachment/1714023758382_MORNINGTRIVEREPORT-25APR20241.pdf

BIST STEAMROLLS ALL WARNINGS AND SPEUCLATIONS FOR A GREEN CLOSING
The BIST100 managed to regain its positive momentum yesterday, after a brief hick-up on Monday, closing 0.80% higher at 9722, and turnover of TRY 102.2bn, thanks to the buoyant buying appetite in the Banks, this time, with the State-Banks outperforming their peer, Private-Banks, despite media reports of the potential increase in the savings deposit rate to 15% from the current 5% rate. Accordingly, the Banks closed the day 2.77% higher, and the Aviation stocks also rose by 2.53%, thus co-joining the Banks in lifting the BIST higher, whereas the Mining stocks fell by 1.71%, and the Energy and Industrials also lagged their peers, diverging negatively. PGSUS shares continued to fly high and were once again the most bought BIST30 stocks, followed by GARAN and ISCTR, whereas KOZAL-FROTO and HEKTS were the most sold. VAKBN closed limit-up thanks to a new ?Buy? report from a local broker, and thus aiding HALKB and TSKB to also close limit-up yesterday. On the Bonds? side, the 2yr yields were unchanged at 45.35%, while the 10yr rates rose by a slight 10bps to 28.86%. As of print, the TRY is trading a tad weaker against the USD at 32.58, but weaker against the Euro at 34.89, while the DXY has retreated to 105.76. On the commodity front, Brent has risen to $87.19, while Ounce GOLD is trading lower compared to yesterday?s closing level at $2317. The Senior Director of Fitch Sovereigns?, Erich Arispe Morales, warned yesterday that despite the macro tightening process, the monetary policies were still ?expansionary,? and that adjustments would be needed to ensure financial stability. Türkiye House prices rose by 58.31 y/y in February, its slowest growth rate since December 2021, and rose by 2.2% m/m. Türkiye?s Confidence Level rose by 1.7pts to 106.1 in April, thus its highest level in 9 months, and the Capacity Utilization Rate rose by 0.5% to 76.7 m/m.
AGENDA
The CBRT policy rate meeting will take precedence today on the local macro side, where the majority expectations are for the CBRT to leave the policy rate unchanged at 50%, however, investors will be carefully following the CBRT press release for hints of further tightening measures, followed by the Foreigners? Net Stock/Bond Holdings, while the US will be disclosing its Wholesale figures, GDP Growth Rate, and Weekly Jobless Claims.
 
FINANCIAL RESULTS
SUWEN: Disclosed an annual net income in 2023 of TRY 191.6mn, a decrease of 15% compared to the 2022 figure of TRY 224.2mn. EBITDA, however, rose by 32% to TRY 546mn in 2023 vs TRY 413mn in 2022.
CORPORATE NEWS
ENKAI: Disclosed 2 new projects, Propylene Splitter Project contracts for Izmit Refinery and Izmir Refinery are signed between ENKA and Tüpraş-Türkiye Petrol Rafinerileri A.Ş. on 24.04.2024. The total amount of both contracts is 175 million USD and the projects are planned to be completed in 32 months. EKGYO: Disclosed that it has received a total of TRY 6.8bn revenues from Jan.-Mar. 2024 period. TCELL: Disclosed that that the Ukrainian courts have lifted the order for the seizure of the shares of its subsidiaries, lifecell LLC, UkrTower LLC, and Paycell LLC. Also, an agreement has been reached on the ongoing litigation process with Demirören Dağıtım Satış Pazarlama Matbaacılık ve Tahsilat Sistemleri A.Ş. ("Demirören") for the resolution of the dispute through mediation. Within this scope, TRY 130mn will be paid to Demirören.

Foreks Haber Merkezi ( haber@foreks.com )
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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 getiri tercihlerinize uygun olmayabilir. Bu nedenle, sadece burada yer alan bilgilere dayanılarak yatırım kararı verilmesi beklentilerinize uygun sonuçlar doğurmayabilir.