Morning Note /
Turkey

Turkey: Global markets futures signal a positive opening

  • Oil is again above USD 90 levels following the OPEC meeting

  • Turkish equities tested 3,500 level but failed to break this level yesterday

  • We remain positive as long as BIST 100 stays above 3,300 level

ATA Invest
6 October 2022
Published byATA Invest

Global markets futures are signalling to a positive opening. Oil is again above USD 90 levels following the OPEC meeting in Vienna. Volatility is still very high in the markets. Turkish equities tested 3,500 level but failed to break this level yesterday. We remain positive as long as BIST 100 stays above 3,300 level. Aviation sector faced strong cash inflow yesterday ATA top pick is TAVHL but we recommend a buy for THYAO and PGSUS as well.

Company news:

*MPARK TI> bought back 29K shares at an average price of TL51.53 on 5 October 2022. Since 25 May 2022, the total number of shares bought back reached 4.0mn at an average price of TL39.32.

*MGROS TI> opened 27 stores in September and total stores in Turkey reached 2,750 (positive)

 *TCELL TI> Turkcell downgraded to B by S&P outlook stable

*TTKOM TI> Turk Telekom downgraded to B from B+ outlook stable

Weekly Agenda:

Oct, 6: BRSA Weekly banking sector data