Finance Brief: Istanbul rebounds, oil steadies, Kazakhstan's banks cool
Finance Brief: Istanbul rebounds, oil steadies, Kazakhstan's banks cool
Istanbul's stock market bounced back hard on Monday after a bruising end to last week, and the recovery tells you where the nerves are: banks and transport led the rebound, while gold steadied and oil eased as talk of US-Iran negotiations cooled the war premium. For readers watching Turkic markets, the day's message is that risk appetite is returning, but it is fragile and tied to headlines from the Gulf and Washington.
The numbers from Monday's Istanbul close: the BIST 100 finished at 10,961.67, up 1.88 percent, or 202.11 points, from Friday's close at 10,759.56, after dipping as low as 10,626.34 during the session. Turnover was 112.8 billion lira. Banking shares rose 4.24 percent and transport 6.80 percent, the session's best sector. The rebound followed a 3.64 percent fall on Friday, so Monday repaired only part of the damage.
Gold steadied with spot prices around 3,902 dollars an ounce, recovering from Friday's low near 3,880 dollars, while Brent crude eased to around 110 dollars after falling about 3 percent in morning trade, and the dollar traded near 49.97 lira in the morning session. The oil story to watch from this region is Kazakhstan: drone strikes on the Samara hub forced a suspension of Atyrau-Samara transit, a reminder that Kazakh export routes run through the war zone.
Kazakhstan's own banks are cooling: sector profit fell 11.6 percent even as assets reached 76.8 trillion tenge on October 1, with return on equity still strong at 22.7 percent. Boston Consulting Group adds a longer lens: demand for some key minerals could exceed supply by 20 to 150 percent by 2040, a structural opening for a resource-rich country that can process what it digs. In AI money, Oracle plans 20 billion dollars in stock and bond sales to fund its AI expansion, Anadolu Agency reports.
Levels and scenarios: if Türkiye's inflation data on Tuesday, November 3, comes in soft, the BIST rebound has room to run, with banks the clearest beneficiary. If it surprises hot, Monday's low near 10,626 becomes the line to watch. In oil, a quick restart of Atyrau-Samara transit keeps Brent near 110 dollars; a longer outage pushes the risk premium back up and helps exporters like Azerbaijan and Kazakhstan while hurting importers like Türkiye. US nonfarm payrolls on Friday, November 6, and Tuesday's US midterm elections set the global tone into the weekend.
Information only, not financial advice.
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