Daily Bulletin

Good morning. Global risk appetite is mildly positive this morning. U.S. and European equity futures are up by as much as 1%, while Asian futures are displaying a more volatile pattern under slight pressure. As tariff developments return to the forefront of pricing, the postponement of the proposed 50% import tariffs on EU goods by Trump — from June 1st to July 9th — is being received positively, particularly in U.S. and European markets. Going forward, developments related to tariffs and bilateral trade are expected to remain in focus for markets. On the domestic front, in contrast to the previous week, Borsa Istanbul saw a modest institutional net inflow of TRY 436 million. With U.S. and U.K. markets closed, the spotlight was on the low trading volume of TRY 66.5 billion, while the weakness in momentum continues into the beginning of the week. Technically, the 9,300 level is viewed as an intraday support point, whereas the primary support zone stands in the 9,000–9,100 range in the event of further negative news flow. Should the BIST 100 Index align with the global sentiment, we monitor the 9,450–9,600 resistance range for potential intraday upward moves. The 12-month average target for the BIST 100 Index remains around 13,800 points. Based on yesterday’s close, this implies an upside potential of approximately 48%; however, under current conditions, there are limited developments that would support achieving this potential. Today’s domestic agenda is quiet. Internationally, attention will be on the Eurozone consumer confidence index and the U.S. durable goods orders and consumer confidence data. Turkey’s 5-year CDS premium starts the day flat at 305 basis points, unchanged from the previous session.