Daily Bulletin

Good morning. The pressure of the street protests spreading in Europe on global markets is increasing. In addition, oil prices heading towards USD 110 and rising geopolitical risks are also weighing on markets. Technology companies in the U.S. rebounded yesterday, but U.S. futures are weakening again this morning. European futures and Asian markets are also generally in negative territory. In Borsa Istanbul, the selling process also continues. MSCI's postponement of the period previously defined until November to June 2027, while suspending index changes during this process, is causing the reluctance of institutional investors in particular regarding the Turkish equity market to continue. Companies, meanwhile, continue their operations, and we do not have a negative expectation regarding the financial performance of listed companies in general. 12-month valuations point to around 17,500 for the BIST 100 index and a return potential exceeding 50% on an index basis. Once the current stressful period stabilizes, this potential will offer a catalyst; however, in the short term, it seems possible for the index, which has dipped below the 11,900 support and fallen nearly 500 points in two days, to ease towards the 10,500 / 11,000 band. While the BIST 100 Index fell 2.5% to 11,430 points yesterday, the companies contributing to the index were YKBNK, AKBNK, TAVHL, GARAN, AGHOL, while those with a negative impact on the index were ASELS, TUPRS, BIMAS, THYAO, TURSG. Companies standing out with steady fund inflows over the past week were GARAN, KCHOL, ENTRA, AKFYE, LIDFA, GMTAS. On today's agenda, the TV broadcast in which Treasury and Finance Minister Mehmet Şimşek will participate at 11:15 will be followed domestically. On the data side, the ZEW economic sentiment index in Europe and housing starts in the U.S. will be monitored. Turkey's 5-year CDS premium starts the day at 252 basis points.