Daily Bulletin

Good morning. While tensions between the United States and Iran continue, CNN’s report that a ten-day ceasefire is being considered is putting downward pressure on oil prices and supporting gains in U.S. futures. European futures are trading lower, while Asian markets are generally positive. Global risk appetite appears balanced this morning and is showing signs of a rebound. Borsa Istanbul recovered above the 14,000 level yesterday, closing at 14,070 with a gain of 0.6%. The 13,900–14,000 range can be monitored as the first support zone, while the 14,200–14,250 band stands out as the first resistance area. We expect a positive opening for the market today. The five stocks that contributed the most to the BIST 100 Index yesterday were TUPRS, BIMAS, EREGL, ASTOR, and ASELS, while DSTKF, KTLEV, ISCTR, KUYAS, and SKBNK had the largest negative impact. Over the past week, TUPRS, TCELL, and PETKM have attracted attention due to consistent fund inflows. The second-quarter 2026 earnings season has also begun. TURSG reported net profit above expectations, while its other financial indicators were generally positive as well. From a valuation perspective, the stock offers close to 60% upside potential and is expected to outperform the benchmark index. Twelve-month target values for the BIST 100 Index point to levels above 19,000, implying upside potential exceeding 35% at the index level. Today’s agenda includes Treasury auctions in Türkiye, economic sentiment surveys in Europe, and growth-related indicators in the United States. Overall, however, the global economic calendar remains relatively quiet today and tomorrow, while Thursday and Friday will feature a much heavier schedule with several important data releases. Finally, Türkiye’s 5-year CDS premium starts the day at 238 basis points.