Bank rescue plans in US helped the markets to relieve and equities are in green today. Although 50 bp rate hike by European CB was a surprise, the markets already digested the news. Local news is mostly related with the elections on May, 14 and seems to be on the top of the agenda of the market going forward. Today we expect a positive opening in the market towards 5,300 level and in case broken up 5,400 and 5,500 levels can be tested. Daily support levels for today are 5,150-5,070-5,000.
Macro and Political news:
Social Security Institution (SSI) prices revised up again in Mar’23 after Sep’22. (Positive for MPARK) SSI prices revised up around 40% in almost all procedures as of 24 March’23. Please note that SSI prices were revised by 40% in almost all procedures in Sep'22. SSI revenues constitute %18 of the company’s consolidated revenue in 2022. We believe that upward revision in SSI will support Medicalpark’s revenue and EBITDA growth in 2023.
Company news:
* Borsa İstanbul announced the changes in BIST indexes which will be effective on 1st of April, 2023. ENKAI TI will be included to BIST 30 Index and TKFEN TI will be deleted from the index. ENKAI TI GESAN TI will be added to BIST 50 Index and AGHOL TI and OTKAR TI will be deleted from BIST 50 Index. ALFAS TI, GENIL TI, IZMDC TI, KONYA, ULUUN will be added to BIST 100 Index and ALGYO TI, ISFIN TI, JANTS TI, NTHOL TI, TSPOR TI will be deleted from BIST 100 Index.
*MPARK TI> bought back 20K shares at an average price of TL79.90 on 16 March 2023. Since 25 May 2022, the total number of shares bought back reached 9.5mn at an average price of TL58.56.
*THYAO TI> bought back 310K shares at an average price of TL131.05 on 16 March 2023. Since 17 February 2023, the total number of shares bought back reached 1.4mn at an average price of TL136.64.
*CCOLA TI> Board revised up its dividend/share proposal to TL2.95 (from TL2.83), implying 1.4% dividend yield. This cash dividend implies TL750mn cash outflow and 17.3% dividend payout ratio. The company plans to distribute its dividend on 22 May 2023.
*KOZAL TI> Kozal bought back 1mn shares at TL 20.56
*ALARK TI> Alarko Tarim, subsidiary of Alarko bought Alsera Jeotermak for TL 6,4 mn
Weekly Agenda:
Mar, 17: CBRT Macro expectations Survey