Morning Note /
Turkey

Global markets are supporting a positive opening in Turkish equities

  • BIST 100 finally tested 4,000 resistance level yesterday but closed at 3.977 level

  • Stellantis CEO’s comments on a potential new investment in Turkey brought sharp buying in TOASO equities

  • TOASO is one of ATA Top picks and we assign high probability that an agreement between Koc group and Stellantis

Zeynep Erman
Zeynep Erman

Equity Research Analyst

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ATA Invest
25 October 2022
Published byATA Invest

BIST 100 finally tested 4,000 resistance level yesterday but closed at 3.977 level. Global markets are supporting a positive opening in Turkish equities. In case 4.000 will be broken up 4.020 and 4.035 will be the new resistance levels. Stellantis CEO’s comments on a potential new investment in Turkey brought sharp buying in TOASO equities and the stock closed limit up yesterday. Please recall TOASO is one of ATA Top picks and we assign high probability that an agreement between Koc group and Stellantis will be reached. According to Dunya daily competition board will begin an investigation to hot rolled coil imports from China. We interpret the news as neutral. Due to Republic holiday there will only be half day trading on Friday.

Company news:

* MPARK TI> bought back 181K shares at an average price of TL61.38 on 24 October 2022. Since 25 May 2022, the total number of shares bought back reached 5.4mn at an average price of TL44.26.

*ALKA TI> will raise the capital through 250% bonus issue and teh reference price will be TRY 43.886

Weekly Agenda:

Oct, 25: Oct capacity utilisation rate

Oct, 26: TAVHL TI 3Q cons NI TRY 1.371 mn ATA NI TRY 1.295 mn

Oct, 26: AKBNK TI 3Q cons NI TRY 16.606 mn ATA NI TRY 16.542 mn

Oct, 26: TKFEN TI 3Q cons NI TRY 661 mn ATA NI TRY 661 mn

Oct, 26: TOASO TI 3Q cons NI TRY 1.821 mn ATA NI TRY 1.783 mn

Oct, 26: TTRAK TI 3Q cons NI TRY 534 mn ATA NI TRY 526 mn

Oct, 26: EREGL TI 3Q cons NI TRY 1.908mn ATA NI TRY 1.914 mn

Oct, 27: Oct Economic confidence index

Oct, 27: Sep Foreign trade statistics

Oct, 27: BRSA Weekly banking sector data

Oct, 27: GARAN TI 3Q cons NI TRY 17.059 mn ATA NI TRY 17.264 mn