Daily Bulletin

Good morning. Mixed news flow regarding the progress of U.S.-Iran negotiations and daily fluctuations exceeding 5% in oil prices continue to fuel volatility across global equity markets. At the current juncture, front-month Brent crude oil futures appear to be seeking equilibrium around USD 93 per barrel. U.S. equity futures are trading in negative territory, European futures are pointing higher, while Asian markets are displaying a mixed performance. On Borsa Istanbul, the 13,800–14,000 resistance zone was tested yesterday. However, following Iran’s statement late in the session that it had “cut off communication with the United States,” coupled with Brent crude oil rising from USD 92 to USD 97 per barrel, the BIST 100 Index closed the day at 13,704 points. This morning, we expect another attempt to move toward the resistance zone. The BIST 100 Index gained 0.3% on a daily basis yesterday. The five stocks contributing most positively to the index performance were TUPRS, ASTOR, ASELS, KLRHO, and EREGL, while the largest negative contributors were DSTKF, THYAO, SAHOL, RALYH, and PASEU. Over the past week, the stocks attracting the most consistent fund inflows have been KRDMD, TCKRC, CWENE, TOASO, MAGEN, and AKGRT. From a technical perspective, the 13,800–14,000 range remains the key resistance zone, while 13,600–13,650 and 13,000–13,200 stand out as major support areas. On today’s economic calendar, inflation data from Europe and the U.S. Job Openings report (JOLTS) will be closely monitored. Finally, Turkey’s 5-year CDS premium starts the day at 241 basis points.