Daily Bulletin

Good morning. While U.S. indices renewed their record highs yesterday, European equities are also trying to hold near their peak levels. Oil prices rose somewhat following the U.S. threat to extend its sanctions on Iran indefinitely. Despite this, U.S. and European futures are in positive territory this morning, while Asian markets are showing a mixed performance. In Borsa Istanbul, the BIST 100 managed to hold above 14,000 yesterday and closed at 14,132, up 0.2% from the previous day. Although trading volume was somewhat lower than the record level seen the day before, it remained above the three-month average, while net capital inflows continued. At the CBRT’s Third Inflation Report presentation, we did not see a clear timetable regarding a potential easing of the 40% funding rate. However, the messages indicated that the issue is being monitored and evaluated. Therefore, while we may not have received the support from the Inflation Report that the Borsa Istanbul, particularly the banking sector, had been looking for, we expect the momentum that has strengthened over the past two weeks to continue and the BIST 100 to maintain its move toward the 14,200–14,250 resistance zone. In this process, the 13,800–14,000 region can be monitored as an important support area. The top five stocks contributing positively to the index yesterday were ASELS, ASTOR, EREGL, RALYH and PASEU, while BIMAS, ODINE, TUPRS, KCHOL and MGROS were the biggest negative contributors. The stocks that have stood out with consistent capital inflows over the past week are ASELS, AKBNK, YKBNK, TTKOM, TUPRS, GLRMK, RALYH, MANAS, TOASO and GENTS. Today’s agenda includes the CBRT Market Participants Survey in Türkiye, growth and employment data in Europe, and retail sales and consumer sentiment data in the U.S. Finally, Turkey’s 5-year CDS premiums are starting the day at 220 basis points.