Categories Economy Finance HIGHLIGHTS Budget, December 2020: A Tough Road in Medium Term Cem ÇetingüçPosted on16 January, 202116 January, 2021In December, Budget gave a deficit of TL40.7bn. There was no consensus available. Budget gave a … Continue ReadingBudget, December 2020: A Tough Road in Medium Term
Categories General Company Update: MLP Care Cem ÇetingüçPosted on15 January, 202115 January, 2021A year of volatility comes to an end MLP Care’s stock has lived through 2020’s … Continue ReadingCompany Update: MLP Care
Categories Business Company & Industry Finance HIGHLIGHTS Markets Company Update: GARANTI – Our Top Banking Pick of 2021 Cem ÇetingüçPosted on15 January, 202115 January, 2021Garanti released 2021 operating plan guidance last week The Bank has kept 2020 guidance unchanged … Continue ReadingCompany Update: GARANTI – Our Top Banking Pick of 2021
Categories Economy Finance HIGHLIGHTS Macro Focus: November Still Strong in Q4 Cem ÇetingüçPosted on14 January, 2021In November, IP increased by 1.3% MoM and 11% on a YoY. According to the consensus, … Continue ReadingMacro Focus: November Still Strong in Q4
Categories Economy General HIGHLIGHTS Macro Snapshot: Labor Force Statistics, October 2020 Cem ÇetingüçPosted on11 January, 2021Turkey’s unadjusted unemployment rate was 12.7% in October (Sep.20: 12.7%, Oct.19: 13.4%). Seasonally Adjusted unemployment … Continue ReadingMacro Snapshot: Labor Force Statistics, October 2020
Categories Business Company & Industry Finance Markets Top Picks Update: Adding MPARK, Removing TTKOM Cem ÇetingüçPosted on11 January, 2021Adding MPARK. We are adding MLP Care to our model portfolio with a recently increased TP … Continue ReadingTop Picks Update: Adding MPARK, Removing TTKOM
Categories Business Company & Industry HIGHLIGHTS AKBNK – Short Term Pain Before Long Term Gain Cem ÇetingüçPosted on7 January, 20217 January, 2021Akbank announces 2021 targets with ROE recovery skewed to 2H The Bank has confirmed 2020 … Continue ReadingAKBNK – Short Term Pain Before Long Term Gain
Categories Economy Finance General Macro Snapshot: Net FX Position of Non-Financial Companies, October 2020 Cem ÇetingüçPosted on6 January, 2021In October, net FX position of the non-financials was USD-157.2bn (3Q20: USD -162.3bn). The total … Continue ReadingMacro Snapshot: Net FX Position of Non-Financial Companies, October 2020
Categories General Y.F. Macro Snapshot: Foreign Trade Statistics, November 2020 Cem ÇetingüçPosted on4 January, 2021Foreign trade deficit increased by 153.5% YoY to US5bn. 12-month rolling deficit hit the highest … Continue ReadingY.F. Macro Snapshot: Foreign Trade Statistics, November 2020
Categories Company & Industry Economy Finance Markets Y.F. Macro Snapshot: CUR, RSCI and Sectoral Confidence Indices Cem ÇetingüçPosted on25 December, 202025 December, 2020In December, CUR of manufacturing sector and RSCI increased whereas sectoral confidence indexes recorded monthly … Continue ReadingY.F. Macro Snapshot: CUR, RSCI and Sectoral Confidence Indices
Categories Business Company & Industry Markets Y.F. Securities: Turkish Banks – Weekly DataWatch Cem ÇetingüçPosted on24 December, 202024 December, 2020Second week of FX loan growth; TL loans flat According to BRSA weekly bulletin for … Continue ReadingY.F. Securities: Turkish Banks – Weekly DataWatch
Categories Business Company & Industry Finance Y.F. COMPANY UPDATE – OZKGY: Upside limited after stellar 2020 Cem ÇetingüçPosted on21 December, 2020Upside limited after stellar 2020 performance Increasing trend in interest rates could push down the … Continue ReadingY.F. COMPANY UPDATE – OZKGY: Upside limited after stellar 2020
Categories Finance Markets Y.F.: Turkish Banks – Weekly DataWatch Cem ÇetingüçPosted on18 December, 2020Loans flat w/w According to BRSA weekly bulletin for the week of December 11, total … Continue ReadingY.F.: Turkish Banks – Weekly DataWatch
Categories Economy Finance Markets Y.F. Macro Snapshot: Outstanding External Loans Received by Private Sector Cem ÇetingüçPosted on17 December, 202017 December, 2020In October, both short term and long term outstanding external loans decreased by USD2.6bn and … Continue ReadingY.F. Macro Snapshot: Outstanding External Loans Received by Private Sector
Categories Company & Industry Economy Finance Markets Y.F. Macro Focus: IP, October 2020: Recovery Trend Continues But Loses Steam Cem ÇetingüçPosted on14 December, 2020In October, IP increased by 1.1% MoM and 10.2% on a YoY. According to the consensus, … Continue ReadingY.F. Macro Focus: IP, October 2020: Recovery Trend Continues But Loses Steam
Categories Company & Industry Finance Markets Y.F. Research – TUPRS: Upgrade to Outperform Cem ÇetingüçPosted on14 December, 2020Massive margin squeeze should be over We believe the massive margin squeeze for TUPRS should … Continue ReadingY.F. Research – TUPRS: Upgrade to Outperform
Categories Company & Industry Finance Markets Y.F. Company Initiation: CIMSA – Appetite for Growth Cem ÇetingüçPosted on14 December, 2020Worlds’ second largest white cement producer expanding its global footprint With nearly 1.7mn ton/year clinker … Continue ReadingY.F. Company Initiation: CIMSA – Appetite for Growth
Categories Company & Industry Finance General Y.F.: Turkish Banks – Weekly DataWatch Cem ÇetingüçPosted on10 December, 202010 December, 20204Q loan growth at 3% so far According to BRSA weekly bulletin for the week … Continue ReadingY.F.: Turkish Banks – Weekly DataWatch
Categories Economy Finance Y.F. Securities: Turkish Banks – Weekly DataWatch Cem ÇetingüçPosted on5 December, 2020Loan growth gains pace According to BRSA weekly bulletin for the week of November 27, … Continue ReadingY.F. Securities: Turkish Banks – Weekly DataWatch
Categories Business Company & Industry Finance Yatirim Finans Daily : MAVI 3Q results beats estimates Cem ÇetingüçPosted on2 December, 20202 December, 2020On the Market MSCI Turkey outperformed the MSCI EM by 1.6% yesterday. BIST-100 gained 3.2%, … Continue ReadingYatirim Finans Daily : MAVI 3Q results beats estimates
