Daily Bulletin

Good morning. Global markets remain focused on the U.S.–Iran tensions. At the beginning of last week, news suggesting that the conflict environment could come to an end supported a short-lived rebound, but we later saw continued reports of attacks throughout the week. The key issue that global markets are currently focusing on is the situation in the Strait of Hormuz, whether there will be any disruption in oil supply and the direction of oil prices. Oil prices had shown some easing last week, but over the weekend the strike on Khark Island, one of Iran’s key oil distribution hubs, pushed oil prices back above $100, weighing again on global markets. Despite this backdrop, U.S. and European equity index futures, which were under selling pressure on Friday, are starting the new week with a search for a rebound, while Asian markets are generally trading lower. We expect a weak opening in Borsa Istanbul this morning. The BIST-100 Index declined 1.5% on Friday to 13,092 points, with ENKAI, PETKM, KTLEV, TURSG and SASA providing the strongest positive contribution to the index, while ASELS, AKBNK, KLRHO, DSTKF and YKBNK weighed on the index. Over the past week, the stocks that stood out with consistent net inflows were PETKM, TOASO, TURSG and SISE. From a technical perspective, 12,900 / 13,000 and 12,400 stand out as support levels, while 13,250 and the 13,450 / 13,550 band are key resistance levels. On today’s agenda, the central government budget balance and Treasury auctions will be monitored domestically, while industrial production and capacity utilization data will be followed in the U.S., and Turkey’s 5-year CDS starts the day at 273 basis