Daily Bulletin

Good morning. Recent statements from the US have supported the perception that attacks on Iran could come to an end, while expectations that ship transit through the Strait of Hormuz may resume and the International Energy Agency’s plan to release the largest oil reserve in history are supporting markets. That said, ongoing mine-clearing efforts in the region and mutual threats of further attacks indicate that tensions remain elevated. Looking at global markets, US futures and Asian equities are notably positive this morning, while European futures are flat following yesterday’s gains of 1.5% to 2.4%. In Borsa Istanbul, the market also posted a positive session yesterday, with foreign buying and fund inflows helping the index move back above 13,000. The BIST 100 Index rose by 3.7% to 13,175, with ASELS, THYAO, AKBNK, YKBNK, and BIMAS providing the strongest positive contribution to the index, while TUPRS, PASEU, KLRHO, KTLEV, and SOKM were the main negative contributors. Among stocks that have stood out for steady fund inflows over the past week, we observe a decline both in number and quality due to heightened volatility. TSKB, CIMSA, GEREL, and ISGYO can be cited in this context. From a technical perspective, resistance levels at 13,200 and 13,450 / 13,550 should be monitored, while 12,800 / 12,900 and 12,400 stand out as support levels. We expect a positive day for Borsa Istanbul today. On today’s agenda, US CPI data will be the key focus. 5-year CDS starts the day at 245bps.