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Daily Bulletin

Tacirler Investment

Good morning, following higher-than-expected U.S. producer price index figures and weekly unemployment claims, equity markets faced selling pressure, while futures are stable this morning. In Europe, after the ECB's expected 250 basis points rate cut and dovish signals emphasizing weak growth, the markets are soft. In Asia, the lack of detail in China's announced stimulus measures has led to selling pressure in regional markets. At Borsa Istanbul, efforts to hold above the 10,000 level continue, but there is a noticeable loss of momentum. Yesterday, there was a general inflow of funds into the index, but late-session selling led to a flat close. From a technical perspective, the 10,000 and 9,850 levels serve as supports, while resistance is seen in the 10,150-10,170 and 10,260-10,280 ranges. Fundamentally, we observe a shift towards a 12-month average target value of around 13,500 for the BIST 100 index. We anticipate further upward revisions to these targets, which are expected to support the index in the medium term. Today's agenda includes industrial production data in Europe and trade price indexes in the U.S., although these are not expected to have a significant market impact. Turkey's 5-year CDS premiums have started the day flat at 246 basis points.

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