Morning Note /
Turkey

Turkey: Earnings season starts today

  • Today TTRAK will announce its 1Q financials from ATA coverage

  • Strong 1Q results are likely keep the positive momentum in the equities

  • The question will be whether this strong trend in 1Q financials will be sustainable or not in 2Q

Batuhan Ozsahin
ATA Invest
21 April 2022
Published by

Earnings season starts today. Strong 1Q results are likely keep the positive momentum in the equities. The question will be whether this strong trend in 1Q financials will be sustainable or not in 2Q. Today TTRAK will announce its 1Q financials from ATA coverage. Today we expect positive opening in the market. Technically a correction is expected in the market however any daily sharp selling spree is then covered by strong buying in the market. Unless 2500-2490 will be broken down we may expect continuation of the recovery in the BIST-100 Index.

Company news:

*AKSA TI> goes ex-dividend today, paying TL1.85/shr (3.79% div. yield) The reference price will be TL 46.99

*ALKIM TI> goes ex-dividend today, paying TL0.80/shr (3.40% div. yield) The reference price will be TL 22.604

*SISE TI> bought back 1.19mn shares at an average price of TL17.85 on 20 April 2022. Since February, 26 2021, the total number of shares bought back reached 51.9mn at an average price of TL10.57.

Weekly Agenda:

21 April: April Consumer confidence index

21 April: BRSA Weekly Banking sector data

21 April ALKIM cash dividend payment TL 0.80 /share

21 April AKSA cash dividend payment TL 1.85 /share

21 April TTRAK 1Q22 results ATA TL 453 mn Cons TL 452 mn

22 April SARKY cash dividend payment TL 0.30 /share

22 April ARCLK 1Q22 results ATA TL 1,290 mn cons TL 1,147 mn