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

• 16.02.2024 09:16

https://news-files.foreks.com/attachment/1708064209423_MORNINGTRIVEREPORT16FEB2024.pdf


The BIST continued its sharp gains, rising by another 1.87% to 9242, and once again accompanied with a formidable turnover of TRY 152.4bn, thanks to the positive developments on the international front, ie. NATO-F-16 and Erdogan?s visit to Egypt after 11-12 years, as well as investors looking to hedge high inflation with gains at the stock markets.
While the gains were fairly evenly distributed among the sectors, the REITs decoupled negatively, perhaps due to our warning regarding the regional district court?s decision to overturn the Canal Istanbul urbanization planning, that would reflect negatively onto EKGYO and AKCNS, foremost. The Banks ended the day 1.20% higher, with GARAN and AKBNK shares outperforming their peers, and we also observed the Aviation stocks trading well, especially PGSUS, and joined by TAVHL shares yesterday.
Accordingly, SASA and HEKTS closed limit-up, thus leading the gains among the BIST30 stocks, and joined by TAVHL and PGSUS, while FROTO and ISCTR were the only stocks that closed in the red among the BIST30 listings, followed by the slightly green closing of EKGYO.
As of print, the TRY is trading weaker against the USD and the Euro at 30.81 and 33.16, respectively, while the DXY is flat at 104.40.
On the Bonds? side, the 2yr rates rose by 4bps to 42.68%, whereas the 10yr yields fell by 11bps to 26.39%.
On the Commodity front, Brent pared its recent losses yesterday, but is trading slightly lower this morning at $82.30, while Ounce has once again leaped over the $2k level and is currently at $2004.
The Central Gov?t gave a budget deficit in January of TRY 150.7bn, vs TRY 32.2bn deficit in 2023, due mainly to the increase in interest payments, which rose by 467% to TRY 121.1bn.
Last week, Foreign Investors were net BUYERS of $37mn STOCKS, and net BUYERS of $14mn BONDS.

AGENDA:

On the local front today, the Home Sales Figures and Prices will be disclosed, as well as the Expected 12mth Inflation rate, while on the international side, the US will be releasing its New Building Start and Permits, as the PPI and Michigan Consumer Confidence Index.

CORPORATE:

CIMSA: Disclosed the completion of its CAC (Calcium Aluminate Cement) production capacity at Mersin plant, was commissioned after the trial production and testing processes were completed). Accordingly, the total capacity will be increased to 131k tonnes per annum from 65k tonnes. Please note that CAC product is used as the main input in the production of construction chemicals and refractories, will serve our Company's goals of growing in export markets and expanding its value-added product range.


Foreks Haber Merkezi ( haber@foreks.com )
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