US NFP which was higher than expectations brought a selloff in BIST 100 in the PM session yet recovered and closed at the 2,750 level on Friday. US data paused the risk-on mode in equities as an aggressive FED hike expectation increased. Earnings season continues and TTKOM, ISCTR and VAKBN financials will be out today after closing. Today we expect another strong opening towards 2,765 resistance and 2,770- 2,800 levels can be tested in case of further buying. We are still positive on the aviation sector and THYAO will post 2Q results tomorrow which is likely to be positive.
* TKFEN TI SASA TI > acquired US$61mn worth project from Sasa Polyester Sanayi A.Ş. <SASA TI>. Tekfen announced that the company received a letter of award from the Sasa Polyester Sanayi A.Ş. regarding construction works of new PSF and MTR units of SASA Adana Facilities. The project is scheduled to be completed in 25 months. This project constitutes 4.3% of its existing backlog (US$1.4bn) as of 1Q22 end. We consider that the contribution of the project will be slightly positive for its contracting segment.
*SAHOL TI> bought back 500K shares at an average price of TL21.58 on 5 August 2022. Since 09 Nov 2021, the total number of shares bought back reached 60.1mn at an average price of TL16.94.
*MPARK TI> bought back 26K shares at an average price of TL40.54 on 05 August 2022. Since 25 May 2022, the total number of shares bought back reached 2.0mn at an average price of TL35.50.
Aug 8: TTKOM 2Q cons NI: TL 713 mn ATA TL 831 mn
Aug 8: VAKBN 2Q cons NI: TL 6,550 mn ATA TL 6,878 mn
Aug 8: ISCTR 2Q cons NI: TL 14,222 mn ATA TL 14,289 mn
Aug 9: MGROS 2Q cons NI: TL 190 mn ATA TL 213 mn
Aug 9: CCOLA 2Q cons NI: TL 1,211 mn ATA TL 1,229 mn
Aug 9: EREGL 2Q cons NI: TL 6,743 mn ATA TL 6,743 mn
Aug 10: June Unemployment rate
Aug 10: AEFES 2Q cons NI: TL 924 mn
Aug 10: THYAO 2Q cons NI: TL 6.859 mn ATA TL 7,019 mn
Aug 11: June CAD
Aug 11: MPARK 2Q cons NI: TL 843 mn
Aug 11: AKSA 2Q cons NI: TL 509 mn
Aug 11: TKFEN 2Q cons NI: TL 700 mn ATA TL 669mn
Aug 11: ASELS 2Q cons TL 1,745 ATA 1,463 mn
Aug 12: June Industrial production Index