Daily Bulletin

Global risk appetite is starting the week on a mildly positive note. U.S. and European futures, along with Asian equity markets, are generally trading in positive territory. However, this optimism lacks a strong fundamental catalyst. Iran’s proposal to continue negotiations with the U.S., while postponing nuclear-related discussions to a later stage, can be considered a limited supportive factor. Meanwhile, oil prices remain elevated, hovering around the $100 level. On the domestic front, Borsa Istanbul continues to hold around the 14,400 level, with a slightly positive opening expected this morning. The index closed Friday at 14,409, marking a 0.5% daily increase. The top positive contributors to the index were DSTKF, ASTOR, TUPRS, SASA, and MAGEN, while ASELS, AKBNK, ISCTR, MGROS, and MPARK weighed negatively on performance. Over the past week, ULKER, THYAO, HALKB, MEGMT, and HTTBT have stood out due to consistent capital inflows. From a technical perspective, the 14,500 and 14,600–14,620 range are being monitored as resistance levels, while the 14,200–14,250 range serves as a key support zone. The macroeconomic calendar is relatively light today. However, market participants will focus on upcoming interest rate decisions from the Fed and ECB later this week, alongside inflation and growth data releases in the U.S. and Europe. Additionally, developments related to U.S.–Iran relations will remain on the radar. Turkey’s 5-year CDS spreads are starting the day at 240 basis points.