Market Developments Worth Noting: October 13 Analysis

Global Market Developments

In global markets, especially the US-China trade tensions and political uncertainties in France continue to be at the forefront for investors. Following the announcement of a 100% additional tariff on Chinese products by the US President, the risk perception in the markets increased, but a recovery was observed in futures trading with his weekend messages of softening.

Commodity Price Movements

The prices of gold and silver, viewed as safe havens, have reached record levels due to strong demand from investors. On the other hand, Brent crude prices have risen above $63 in parallel with a decrease in trade tensions. The announcement of third-quarter financial statements from major US banks this week will be a critical determinant for the direction of the market.

The Situation in Europe and Asia

In Europe, the government change in France creates short-term uncertainty, while the sales in Asia, particularly concerns from China, are noteworthy. In terms of geopolitical developments, a ceasefire between Hamas and Israel seems to have reduced regional risks to some extent. However, the increasing border clashes between Pakistan and Afghanistan emerge as a new risk factor.

The Status of Borsa Istanbul

The BIST 100 index opened with buyers on Friday but could not maintain its rise. While the banking index showed slight gains, the industrial index exhibited a limited decline. Internal political and geopolitical developments have caused the buying appearance in the index to be suppressed. In the new week, a cautious outlook is expected to be maintained in the index. If it falls below the support level of 10,700, the levels of 10,600 and 10,500 could increase downside risks, while the resistance levels of 10,850 and 10,900 will be monitored above.

Market Expectations

The payments balance data to be announced today is expected to show a current surplus in August. In the following days of the week, data related to the housing market and the Central Bank of Turkey (CBRT) market participants survey will be monitored. Additionally, the S&P evaluation report may have a significant impact on the markets.

Technical Outlook and Notable Stocks

Among the notable stocks in the markets, the following are highlighted:

• Gülermak Heavy Industry (GLRMK)
• Katılımevim Financing (KTLEV)

Furthermore, the CBRT interest rate decision and third-quarter financial statements will be closely watched by investors this week.