Daily Bulletin

Good morning. Global risk appetite is balanced this morning. Yesterday, technology stocks in the U.S. came under selling pressure; however, Apple and Amazon’s earnings were released on a positive note afterward, leading U.S. futures to trade higher this morning. European futures are slightly negative, while Asian markets show a mixed outlook. At Borsa Istanbul, we saw a limited pullback yesterday, with the index holding above the interim support level of 10,700. The BIST 100 Index declined by 0.31%, while the top five contributors to the index’s performance were DSTKF, AKBNK, KOZAL, SAHOL, and GARAN. Over the past week, consistent capital inflows were observed in KOZAL, EREGL, SISE, and ENKAI, whereas on a daily basis, AKBNK, PGSUS, and EKGYO stood out. This morning, we expect a slightly positive opening, in line with the broader global sentiment. However, it is worth noting that today marks the final trading day for October futures contracts on the VIOP. As a result, unwinding of arbitrage positions may exert some pressure on Borsa Istanbul. We believe, however, that any potential selling from this side will likely be absorbed. On today’s agenda, domestic trade balance and tourism data will be monitored, while inflation figures will be followed in Europe. In the U.S., the core personal consumption expenditures (PCE) data were originally scheduled for release today, but due to the ongoing government shutdown, the data are not expected to be published. Turkey’s 5-year CDS premiums start the day once again at 246 basis points.