Daily Bulletin

Good morning. Global markets started the new week on a positive note. While the rally in U.S. and European indices continued yesterday with attempts to reach new record highs, futures are also maintaining a positive tone this morning. In Asia, however, a mild selling pressure is being observed. Risk appetite is supported by the U.S. Senate’s approval of a temporary budget bill to reopen the federal government, with a vote of 60 to 40. If the bill passes the House of Representatives, it will be sent to President Trump for signature, which is expected to end the 40-day government shutdown. On the Borsa Istanbul side, the weak price momentum that diverged from the global positive sentiment extended into a second day. The BIST 100 index closed the day down 1.24% at 10,789 points. Following the close near intraday lows, the 10,730–10,700 range stands as the first support zone, while 10,550–10,650 will serve as the main support area in case downward pressure continues. On the upside, 10,900 and 11,000 points remain as resistance levels. Domestically, the deadline for consolidated financial statements ended as of yesterday. With most companies having completed their 3Q25 reports, the period reflected sectoral and company-specific divergences, while the overall picture pointed to weaker profitability. According to TurkStat data, the industrial production index declined by 2.2% month-on-month in September, while increasing by 2.9% year-on-year. The data provide mixed signals regarding the third-quarter growth performance. On today’s agenda, domestic markets will follow September retail sales figures, while in Germany and the Eurozone, the focus will be on the release of economic sentiment indices and speeches by ECB President Lagarde. In the U.S., several macroeconomic data releases from federal agencies remain postponed due to the government shutdown. Turkey’s 5-year CDS premium starts the day at 242 basis points.