At the opening, the BIST 100 index rose by 116.84 points and 1.12 percent compared to the previous close, reaching 10,588.16 points.
The banking index increased by 1.53 percent and the holding index by 0.93 percent. Among sector indices, sports was the top gainer with 2 percent, while forestry, paper, and printing was the only decliner with 3.38 percent.
The BIST 100 index at Borsa Istanbul, which followed a buying trend on Friday, completed the day with a 0.76 percent increase at 10,471.32 points.
Meanwhile, Minister of Treasury and Finance Mehmet Şimşek will continue his investor meetings abroad in London, the capital of the United Kingdom.
Following his visit in October 2023, Şimşek will once again attend investor meetings in London. Şimşek's engagements in London will continue until Friday.
Within the scope of the meetings organized by investment banks JP Morgan, Deutsche Bank, and Dome Group, Şimşek will meet with hundreds of investors.
Analysts stated that global markets are following a mixed trend despite strengthening expectations that the US Federal Reserve (Fed) will begin interest rate cuts this year, noting that the interest rate decision of the Bank of England (BoE) today has become the focus of investors.
Stating that the consumer confidence index and budget balance will be monitored domestically today, and the BoE's interest rate decision, as well as weekly jobless claims, housing starts, and building permits in the US, and the consumer confidence index in the Eurozone will be followed abroad, analysts noted that although annual inflation in the UK has reached the BoE's target, the bank is not expected to cut the policy rate at today's meeting.
Pointing out that despite expectations for a rate cut by the BoE in August or September coming to the fore following the announced inflation data, services inflation, which reflects the strength of wage growth, remains at high levels, analysts noted that technically, the 10,600 and 10,700 levels are resistance, and 10,400 and 10,300 points are support positions for the BIST 100 index.
News Source: AA
