Daily Bulletin

Good morning. As tensions between the United States and Iran continue to escalate, active Brent crude oil prices have approached the $90 per barrel level. Investors will be closely monitoring how long this process persists and where oil prices ultimately find equilibrium, as higher energy prices are likely to weigh negatively on both global growth and inflation expectations. In addition, it is worth noting that technology stocks, particularly artificial intelligence companies and semiconductor manufacturers, experienced sharp selling pressure on Friday. U.S. and European futures are starting the week on a relatively balanced footing, showing signs of a potential rebound. In Asia, Japanese markets are closed today, while China and Hong Kong are trading higher, whereas South Korea and India are under selling pressure. Borsa Istanbul ended last week below the 14,000 level, closing at 13,981 points after a decline of nearly 2% on Friday. Alongside global market weakness, domestic political developments also contributed to the selling pressure. Stocks that made the largest positive contribution to the index were TUPRS, AKSEN, MGROS, EFOR, and SKBNK, while DSTKF, ASTOR, BIMAS, EREGL, and AKBNK were the main negative contributors. Companies that attracted consistent fund inflows throughout the previous week included KCHOL, TUPRS, AKSEN, KRDMD, EKGYO, and TOASO. It is also noteworthy that all of these stocks delivered positive returns over the week. From a technical perspective, resistance levels for the BIST 100 Index can be monitored at 14,050, 14,160, and 14,250 points, while the 13,600–13,800 range stands out as the primary support zone. On today's agenda, the CBRT Market Participants Survey and Treasury auctions will be closely watched domestically, while the international data calendar remains relatively light. Looking ahead, the market focus will shift to this week's CBRT and ECB interest rate decisions, growth-related economic data releases, and developments surrounding the U.S.–Iran conflict. Finally, Turkey's 5-year CDS premiums start the day at 237 basis points.