Daily Bulletin

Good morning. The resolution of the Greenland dispute between the US and Europe within the NATO framework is contributing to a renewed improvement in global risk appetite. US futures are notably positive this morning, Asian markets are trading with a positive bias, while European futures are slightly negative. The constructive outlook in Borsa Istanbul remains intact. Although the anticipated consolidation in the 12,800 / 13,000 range has materialized, momentum remains positive, supported by ongoing capital inflows, foreign investor interest, and elevated trading volumes. Despite expectations for a 150 basis point rate cut, the CBRT’s decision to deliver a 100 basis point cut led to a limited intraday pullback yesterday, which was later offset by renewed buying interest. As a result, the BIST 100 Index closed the session up 0.97% at 12,851. The stocks contributing most positively to the index were TCELL, BIMAS, TUPRS, EREGL, and ASTOR, while AKBNK, KLRHO, ASELS, YKBNK, and ISCTR weighed negatively. Over the past week, YKBNK, EREGL, GARAN, GUBRF, TUPRS, and TAVHL have stood out with consistent capital inflows. From a technical perspective, the 12,800 / 13,000 band remains a key resistance zone, with 12,915 monitored as an interim resistance within this range. Support levels are seen at 12,700 and 12,570. In today’s macro agenda, PMI data from Europe and the US will be followed. In the evening, credit rating assessments from Moody’s (Ba3, stable) and Fitch (BB-, stable) on Türkiye are expected. While no rating change is anticipated, both agencies are expected to revise their outlooks to “positive.” Finally, Türkiye’s 5-year CDS spreads start the day at 211 basis points, with easing observed amid declining geopolitical tensions.