Market Watch Thursday, June 10, 2021 www.sekeryatirim.com.tr Agenda 07 M onday 08 Tuesday 09 Wednesday 10 Thursday 11 Friday Treasury auc- Treasury auction China, May CPI & ECB, rate decision TurkStat, April industrial pro- tion PPI duction Germany, April industrial pro- U.S., jobless claims Germany, April duction U.S., May CPI U.S., June Michigan Consum- factory orders er sentiment Germany, June ZEW Index U.S., May Federal Treasury Budget Outlook: Major global stock markets remained subdued and closed slightly lower after cautious trading midweek, although risk appetite has remained healthy. Having started the day somewhat positively, the BIST100 traded within a narrow band to close 0.11% higher at 1,449.17. The TRY has Volume (mn TRY) BIST 100 appreciated slightly along with other EM currencies, while Turkey’s 5-year CDS premium continued to decline to 383bps. Should this premium contin- 24.000 ue to decline, the TRY is likely to continue its recovery and the banking 1.600 sector index is likely to relatively strengthen. The BIST is thus likely to 20.000 1.500 maintain its uptrend and any possible profit taking would remain limited, as 16.000 long as global risk appetite remains healthy. Investors will today focus on 18.197 1.400 the US consumer price index data for May; a higher than expected reading 12.000 14.261 may increase worries over Fed tapering. This may spur further profit taking 8.000 14.328 14.281 13.554 1.300 in the US and other global stock markets, and the BIST may follow suit. 1.428 1.433 1.447 1.448 1.449 1.200 Hence, the BIST’s uptrend may remain restricted in the near term, and we 4.000 may observe limited profit taking pressure, also as the pace of the decline 0 1.100 in the number of COVID-19 infections has been decelerating recently. On 3-Jun 4-Jun 7-Jun 8-Jun 9-Jun the other hand, the anticipation of political relations progressing with the US ahead of President Erdogan and his US counterpart Biden’s meeting Indices (TRY) Previous Last Chg. YTD on June 14 would support the BIST against any significant downturn. US BIST 100 1.448 1.449 0,11% -1,87% and German futures have been declining and Asian markets have been BIST 30 1.548 1.550 0,16% -5,26% advancing today. We expect the BIST to open slightly positively, yet we may observe some limited profit taking during the day. SUPPORT: 1,441 - BIST-Financial 1.370 1.374 0,26% -12,23% 1,427 - RESISTANCE: 1,455 -1,466. BIST-Industrial 2.615 2.613 -0,08% 11,67% BIST-Services 1.142 1.144 0,21% -4,07% Money Market: Advances Declines Most Active Stocks (%) Stocks (%) Stocks Vol (TR) The Lira was positive yesterday, gaining 0.11% against the USD to close ARTI 10,00 UFUK -8,22 THYAO 1.774.391.312 at 8.5910. Additionally, the currency appreciated by 0.09% against the YAYLA 9,97 METUR -6,53 GARAN 1.158.935.301 basket composed of $0.50 and €0.50. Meanwhile, the local fixed income ATATP 9,96 AVTUR -6,23 EKGYO 756.981.142 markets were positive. The ten-year benchmark bond was traded within a MZHLD 9,95 SANFM -6,09 KRDMD 717.417.891 range of 18.60%-18.71%, ending the day at a low of 18.60%, 18 bps be- low its previous close. SEKUR 9,95 TKURU -6,08 KOZAL 486.205.151 Domestic Headlines: Money Market Previous Last Pr. Mn YTD O/N Repo (%) 19,10 19,20 18,00 18,49 Today, April labor market data will be announced on the macroeconomic data agenda. We expect a slight increase in the unemployment rate due to Bond (Benchmark, %) 18,86 18,90 17,94 14,96 the economic shutdown (approximately 0.2 points / previous 13.1%). Our Currency Previous Last Chg. YTD detailed analysis after the data release will be published within the day. US$ 8,5881 8,5950 0,08% 15,54% Euro 10,4603 10,4548 -0,05% 14,48% Company News: Euro/Dolar 1,2180 1,21635 -0,14% -0,62% Turkish Airlines (THYAO.TI; MP), Pegasus Airlines (PGSUS.TI; MP), TAV Airports Holding (TAVHL.TI; MP) The EU Parliament has ap- Commodity Previous Last Chg. YTD proved the new EU digital COVID Certificate Regulations, which will func- Oil (Brent spot, $) 71,8 71,5 -0,47% 38,60% tion from July 1st, 2021 onwards. It now remains up to the EU member Oil (NYMEX future, $) 70,0 69,5 -0,69% 43,49% states to implement them over the coming weeks. The EU digital COVID Gold (Ounce, $) 1.888,6 1.884,8 -0,20% -0,72% Certificate will certify that a person has been vaccinated against COVID- Silver (XAG, $) 27,8 27,7 -0,37% 4,80% 19, has a recent negative test result or else has recovered from the infec- tion. The certificate will facilitate restriction-free travel within EU member Şeker Funds Previous Last* Chg. YTD states. The EU states are also encouraged to refrain from imposing further restraints (such as quarantine, self-isolation and testing), unless strictly Fiba Portfoy Şekerbank Money 2,064014 2,064994 0,05% 7,59% necessary and proportionate to safeguard public health. The vaccines >>> Fiba Portfoy Şekerbank Short T. 0,024052 0,024063 0,05% 7,29% * Prices as of 10-Jun-21 Market Watch Thursday, June 10, 2021 www.sekeryatirim.com.tr >>> that will be certified in the documents will have to be approved by the World Indices European Medicines Agency, and these currently include jabs developed America Previous Last Chg. YTD by Pfizer-BioNTech, Moderna, AstraZeneca and Johnson & Johnson. Dow Jones (US) 34.600 34.447 -0,44% 12,55% Member states can also choose, but are not required, to approve entry for Nasdaq (US) 13.925 13.912 -0,09% 7,94% those who received jabs from a vaccine approved in some EU member S&P 500 (US) 4.227 4.220 -0,18% 12,34% states, such as Ru ssia's Sputnik V; they can also choose to recognize Europe Previous Last Chg. YTD other vaccines approved by the WHO. The certificates will be valid for trav- Dax (Germany) 15.641 15.581 -0,38% 13,58% el restriction-free within the EU; Turkey will remain subject to bilateral deals FTSE 100 (UK) 7.095 7.081 -0,20% 9,60% with member countries to mutually recognize vaccination certifications. CAC 40 (France) 6.551 6.563 0,19% 18,23% PSI20 (Portugal) 5.112 5.113 0,02% 4,39% Erdemir (EREGL.TI; OP) has shared an update on one of the ongoing RTSI (Rusia) 1.656 1.675 1,10% 20,71% cases against the company, regarding Bor-San’s demand of c.TRY10.8mn Asia Previous Last Chg. YTD compensation for loss arising out of a sales contract with the company. The latest development in the case had seen Ankara Commercial Court of First Nikkei (Japan) 28.964 28.861 -0,35% 5,16% Instance deciding on the bankruptcy of Bor- San, and Kdz. Ereğli Civil Hang Seng (Hong Kong) 28.781 28.743 -0,13% 5,55% Court of First Instance 3rd deciding for the abatement of proceedings. Er- Shanghai Comp. (China) 3.580 3.591 0,32% 3,41% demir has shared that the next trial would be held on September 15th, KOSPI (South Korea) 3.248 3.216 -0,97% 11,93% 2021. Sensex (India) 52.276 51.942 -0,64% 8,51% Turkdex (Set. Price) Previous Last Chg. YTD INX30 (June 21) 1.566 1.568 0,13% -5,46% USD (June 21) 8,6858 8,677 -0,11% 14,41% EURO (June 21) 10,5934 10,575 -0,18% 13,28% GOLD (June 21) 529,17 527,60 -0,30% 13,17% Portfolio Inclusion Inclusion Last Chg. BIST Recommend. Date Price Close (%) Relative Tofas 06/09/19 18,98 30,72 61,9% 10,6% Şişecam 18/01/21 7,82 8,14 4,1% 9,5% Erdemir 18/01/21 15,19 19,02 25,2% 31,7% Akbank 18/01/21 6,91 5,45 -21,1% -17,0% Arcelik 07/12/20 27,98 31,08 11,1% 1,9% Tupras 11/05/21 95,75 102,60 7,2% 6,8% Garanti BBVA 17/01/19 9,25 8,36 -9,6% -3,1% Portfolio Yield (yoy) 58,9% 19,7% Portfolio Yield (mom) 6,1% 4,5% This document has been prepared by the Equity Research Department of Şeker Invest. The information and data used in this re- port have been obtained from public sources that are thought to be reliable and complete. However, Şeker Invest does not accept responsibility for any errors and omissions. This document should not be construed as a solicitation to buy or sell securities he- rein. This document is to be distributed to qualified emerging market investors only. Şeker Yatırım Menkul Degerler A.S. - Buyukdere Cad. No:171 Metrocity A Blok Kat 4-5 SISLI /ISTANBUL Tel: (+90) 212 334 33 33 Pbx, Fax: (+90) 212 334 33 34, [email protected] .