We have left a volatile week behind with Fed statements out of the way, natural gas/electricity reductions for industries at much lower levels and going back to normal, while Ukraine-Russia tensions are at more reasonable levels.
We are off to a more positive week for equities with Q4 reporting getting into full swing. Banks start reporting with Akbank on 1st, Garanti on 2nd , YKB on 3rd, while other large-cap banks are reporting next week. Banks, Eregli & Kardemir (increasing domestic HRC prices 6 spreads) and Sise (due to last week’s underperformance from natural gas/power related bad newsflow) should be the names to watch this week.
Jan 31: December Trade Balance( Consensus -USD6.6bn) Feb 1: Akbank 4Q21 results. Consensus TL4,096mn, ATA estimate TL4,222mn
Feb 2: January PMI ( December 52.1)
Feb 2: Feb 1: Garanti 4Q21 results. Consensus TL3,803mn, ATA estimate TL4,148mn
Feb 3: February CPI ( Consensus 11% m/m, 48.15%)
Feb 3: Feb 1: YKB 4Q21 results. Consensus TL3,327mn, ATA estimate TL3,643mn