Daily Bulletin

Good morning. The strike on the gas fields jointly used by Iran and Qatar in the Persian Gulf is leading to a renewed increase in energy costs. Brent crude, which had moved below USD 100 following the reopening of the Iraq–Türkiye oil pipeline, is now heading toward USD 110 in the wake of the latest developments. Following yesterday’s sell-off in U.S. and European equities, futures are also in negative territory this morning. Losses in European futures, approaching 2%, are particularly notable. Asian markets are also broadly weaker. The BIST 100 Index fell 0.8% yesterday to close at 13,115. The top five positive contributors to the index were ASELS, TUPRS, DSTKF, ASTOR and MAVI, while BIMAS, KLRHO, TRALT, KCHOL and SAHOL were the main negative contributors. Over the past week, the names that stood out with consistent money inflows were SASA, DOFRB, HEDEF, TRMET and TURSG. From a technical perspective, 12,880 / 12,900 can be monitored as support, while 13,250 / 13,300 stands out as the resistance zone. Since trading will be half-day due to the Ramadan holiday, volumes may remain limited. Accordingly, we expect a weak opening in line with external markets, followed by a relatively flat trading pattern. On today’s agenda, CBRT reserves and foreign investor flows will be monitored domestically. In the UK and Europe, central bank rate decisions will be in focus, while in the U.S. the Philadelphia Fed Manufacturing Index will be closely watched. Türkiye’s 5-year CDS starts the day at 278 basis points.