Daily Bulletin

Good morning. Expectations of dialogue between the U.S. and Iran are easing active Brent crude oil contracts, which approached USD 114 last week, to USD 104 this morning. The U.S. operations in the region, however, continue. A meeting between Russia and Ukraine is also expected next week. Global equity markets are making a weak start to Tuesday morning. U.S. and European futures are in negative territory, while there is a mixed picture in Asian markets. In Borsa Istanbul, 10,630 was tested after the opening yesterday, and with the subsequent buying, the BIST 100 index ended the day at 10,962 points with a 1.9% increase. The companies contributing to the index were THYAO, BIMAS, AKBNK, YKBNK, ISCTR, while those with a negative impact on the index were TUPRS, ASELS, ASTOR, DOAS, TABGD. Companies standing out with steady fund inflows over the past week were GARAN, AKBNK, TAVHL, ENKAI, TSKB and NTHOL. The XBANK Banking Index rose 4.2% yesterday, positively diverging from the BIST 100 index by 3.2% on a daily basis. XBANK's relative positive divergence from BIST since the end of August has reached 28%. We think that banks will continue to diverge positively as long as expectations of rate cuts from the MPC continue. 3Q26 financial results continue. So far, results from 200 companies have been released, and according to our assessments, 23% of the announced results point to annual growth based on the criteria we have set. Among the most recently announced financials, ENJSA and AKFIS results are positive. The 11,250 / 11,300 resistance and the 10,800 support can be monitored in the index. On today's agenda, inflation data stand out domestically. We expect annual CPI to decline from 29.7% to 29.5% with a monthly increase of 2.4% in CPI. In the U.S., midterm elections will be held today, in which the entire House of Representatives and one-third of the Senate will change. Turkey's 5-year CDS premium starts the day at 258 basis points.