Market Watch (Şeker Yatırım)

Market Watch - Wednesday, February 12, 2025
Outlook:
The BIST100 Index started Tuesday on a negative trend, then recovered with reaction purchases throughout the day to close at 9,882.79, up 0.38%. While the Industrial Index decreased by 0.04%, the Banking Index gained 0.41%. The BIST continues its weak and volatile course due to the lack of a short-term story. On the global front European stock markets continued to rise and so, too, did the U.S. stock markets, except for the Nasdaq. However, as Fed Chairman Powell reiterated that they would not rush to cut interest rates risk appetite weakened. This morning, German DAX futures and U.S. futures are on a downtrend, while Asian stock markets are positive. Today markets will follow CPI data from the USA. The data is expected to indicate a monthly rise of 0.3% and an annual increase of 2.9%. While we expect data to guide risk appetite, the markets will also continue to monitor trade war developments. The VIOP30 Index completed the evening session up 0.88%. Locally, we expect the Benchmark Index to start Wednesday flat and then follow a fluctuating course. SUPPORT: 9,750 - 9,650 RESISTANCE: 9,950 - 10,150.
Money Market:
The Lira was negative yesterday, weakening 0.15% against the USD to close at 36.0488. The currency also depreciated by 0.28% against a basket of $0.50 and €0.50. Meanwhile, the local fixed income markets were negative. The ten-year benchmark bond was ending at 28.07%, 9 bps above its previous closing.
Company News:
Erdemir (EREGL.TI; OP) is set to announce its 4Q24 financials today after the market close. We anticipate quarterly net profit of TRY 2,600mn. We expect 4Q24 net sales revenues and EBITDA to reach TRY 49,111mn and TRY 3,308mn, respectively.
Isbank (ISCTR.TI; OP) is expected to announce its 4Q24 earnings results today after the market close. Among the private banks we follow, we expect Is Bank to post the second highest earnings growth and margin improvement QoQ. Our 4Q24 net income estimate is TRY6,660mn. We model 20% quarterly earnings growth and a 67% YoY earnings decline with a quarterly ROAE of 9%. The bank stands out with a best-in-class recovery in NII amid lower repo funding volumes. NIM (adjusted) is to improve by a solid 156bps QoQ to positive territory. Research Turkey market consensus is at TRY7,424mn (Positive).
Tofas (TOASO.TI; OP) is to announce its 4Q24 results after the close of the TR markets. For 4Q24, we expect net sales of TRY 28,471mn (Research Turkey market average expectation: TRY 27,791mn). On the EBITDA side, the average market expectation is TRY 878mn, while our expectation is TRY 547mn. As a result, we expect the Company to print a net profit of TRY 511mn (market expectation: TRY 561mn).



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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.