Daily Bulletin

Good morning. Following the downing of a US Apache helicopter, geopolitical tensions between the US and Iran are escalating once again. Initially, the US reportedly struck several Iranian targets, after which reports emerged of Iranian attacks on US bases located in three different countries in the region. Within this context, oil prices have shown a modest upward bias; however, increased vessel traffic in the Strait of Hormuz is partially offsetting the upward pressure on prices. Active Brent crude oil contracts, which had declined to $89 yesterday, surged to $92 following the attack news. This morning, however, prices are once again trading in the $90–91 range. US and European futures, along with Asian equity markets, are starting the day on a weak note. In Borsa Istanbul, despite an intraday test of the 13,900 resistance level yesterday, late-session selling pressure led the index to close down 0.86% at 13,741 points. The top positive contributors to the index were DSTKF, BIMAS, YKBNK, RALYH, and PASEU, while ASELS, TUPRS, ASTOR, MAGEN, and KCHOL were among the largest negative contributors. Over the past week, stocks that have attracted consistent net inflows include GESAN, THYAO, AKBNK, YKBNK, EREGL, SAHOL, and DOAS. This morning, we expect a weak opening in line with global market conditions. From a technical perspective, the 13,600 / 13,660 range remains a key support zone, while 13,900 and 14,100 / 14,200 levels are monitored as resistance areas. On the macroeconomic calendar, US CPI data will be closely watched today, with annual inflation expected to rise from 3.8% to 4.2%. Tomorrow, US PPI data along with central bank interest rate decisions from the MPC and the ECB will be followed. Finally, Turkey’s 5-year CDS premiums are starting the day at 239 basis points.