Daily Bulletin

Good morning. News flow centered on the Middle East continues to shape market dynamics. Over the past 24 hours, markets have been tracking numerous headlines—each triggering reactions in different directions—including reports of U.S. vessels being hit (later denied), seven Iranian boats being sunk, ships transiting the Strait of Hormuz, and certain targets in the UAE and Kuwait allegedly struck by Iran. Oil prices are currently trading above their intraday averages from yesterday, yet remain below the levels seen during the evening hours. Global risk appetite presents a balanced outlook. U.S. futures are slightly positive, European futures are negative, and in Asia, most markets are closed while those open are showing a weak tone. On Borsa Istanbul, despite higher-than-expected inflation data, sentiment remained positive until midday yesterday; however, geopolitical developments led to a pullback in the second half of the session. The BIST 100 Index declined by 0.5% to close at 14,370 points. The top positive contributors to the index were ASELS, ASTOR, EREGL, RALYH, and CCOLA, while AKBNK, THYAO, BIMAS, YKBNK, and SISE weighed negatively on the index. Over the past week, stocks attracting consistent inflows included ASELS, ASTOR, EREGL, KCHOL, LMKDC, OBAMS, and ULKER. From a technical perspective, the 14,600–14,620 range stands out as the first resistance zone, while 14,200–14,250 serves as the initial support area. On today’s agenda, domestic markets will monitor Treasury auctions and the real effective exchange rate. In the U.S., housing sector data and growth-related indicators will be released. Lastly, Turkey’s 5-year CDS premiums start the day at 243 basis points.