Morning Note /
Global

Turkey: Global markets are slightly weak

  • BIST 100 tested the historical high level yesterday and closed at this level

  • Tomorrow we will hear the May inflation figure which is likely to be higher than consensus expectations

  • ATA expects 5.4% CPI in May. We will be revising up our annual inflation estimate after hearing the May inflation

Batuhan Ozsahin
ATA Invest
2 June 2022
Published by

Global markets are slightly weak and the risk appetite is low yet turkey keeps decoupling lately. BIST 100 tested the historical high level yesterday and closed at this level. We may see another positive opening towards 2,575 level today in BIST.

Tomorrow we will hear the May inflation figure, which is likely to be higher than consensus expectations. ATA expects 5.4% CPI in May. Electricity and NG price hikes which were announced yesterday will continue putting pressure on inflation. We will be revising up our annual inflation estimate after hearing the May inflation.

Company news:

*SAHOL TI> bought back 500K shares at an average price of TL20.90 on 01 June 2022. Since 09 Nov 2021, the total number of shares bought back reached 47.1mn at an average price of TL16.20

*DOHOL TI> goes ex-dividend today, paying TL0.1261015/shr The reference price will be TL 3,874

*SOKM TI> announced that the repurchased shares with a nominal value of TL18.6mn will be cancelled and paid capital of TL 611.9mn will be reduced to TL 593.3mn. In accordance with the Procedure For Theoretical/Reference Price Calculations In Cases Of Corporate Actions, the theoretical price for Sok Marketler's shares will be TL 14.44. Thus, in index calculation, Sok Marketler’s number of shares and its free float ratio will be taken as 593.3mn and 51% respectively to be effective..

Weekly Agenda:

June 2: BRSA Weekly banking Sector Data

June 3: May CPI (Consensus 3.85%, ATA 5.4%)