The occupation of Ukraine and the latest situation in the markets: TL, interest, gold, oil and others …

As investors move away from risky assets in global markets, there are serious decreases in the stock market.

It exceeded 14 for the first time in 2 months. During the day, the highest level of 14.64 was seen in dollar/TL, which was last recorded on 20 December. also tested the 16.56 level. According to the news in various media outlets, the CBRT’s foreign exchange sales continue indirectly, amounting to around 2 billion dollars.

Turkey’s credit default risk premium (CDS) when exceeding 600 basis points 10 year bond yield It is at the level of 22.42 percent. Turkish lira London overnight swap rate rose to 106 percent. Turkey’s 10-year Eurobond interest increased to 8.45 percent.

Borsa IstanbulThere are also sharp decreases in parallel with the global markets. After the opening with a decrease of 7.5 percent, losses in the middle of the day exceeded 8 percent. On the other hand, the losses in the shares of companies affiliated with Russia and Ukraine increase in parallel with the index.

Asian, European indices and US futures indices are all dominated by sales. After the opening, the Stoxx Europe 600 index is over 2 percent, the DAX 30 index is 4.4 percent in Germany, the FTSE 100 index is 2.6 percent in the UK, the CAC 40 index is 3.9 percent in France, and the IBEX index in Spain. The 35 index fell 4.3 percent and the FTSE MIB index in Italy fell 3.3 percent.

There were also hard sales in Asian stock markets, where the transactions ended. Japan’s Nikkei index, which closed the day with a decrease of 1.8 percent, decreased by 2.4 percent in intraday transactions. Tokyo Nikkei 225 Index saw below 26,000 points for the first time since November 2020. China’s Shanhai Composite Index also closed down 1.74 percent.

Russia and Ukraine-linked companies draw attention among the stocks that lost value while the BIST 100 fell by more than 9 percent. While Turkish Airlines, which stands out with its Russian operations, lost 9.97 percent, Anadolu Efes, which is influential in the Russian market with its factories and sales volume, decreased by 9.54 percent. One of the biggest losses is in Tekfen, which stands out with the work it receives from Russia. Tekfen lost 9.93 percent.

While Enka İnşaat decreased by 8.99 percent, Mavi Giyim, which is one of the important players in the Russian market, decreased by 9.96 percent. Şişecam lost 9.71 percent, and Turkcell, its subsidiary in Ukraine, lost 4.47 percent.

War concerns are pushing food companies’ stocks up. While the loss reached 6.75 percent as of 12.51 in Borsa Istanbul, the shares of food companies such as tomato paste, flour, milk and water started to rise after Russia’s attack on Ukraine. Ulusoy Un is among those who have risen the most, with 9.49 percent. Pınar Et and Flour Industry follow with 9.04 percent, and Tat Gıda is among the ones that have increased the most with 4.30 percent. Pınar Süt stands out with 3.69 percent, Pınar Su with 3.45 percent, and Van Et with 2.81 percent, among the companies that are on the positive side.

Construction companies in focus, Turkish companies closed their Ukrainian branches

Turkish Contractors Association (TMB) President Erdal Eren made the following assessment regarding the two countries where Turkish contractors’ construction projects of 24 billion dollars, of which 3 billion are in Ukraine and 21 billion in Russia, were carried out: . However, as of now, there is a state of emergency in Ukraine. That’s why the construction sites are closed and people are waiting at the construction sites.”

Russia’s initiation of military action in Ukraine also affected Turkish ready-made clothing stores operating in Ukraine. Many brands, from LC Waikiki to Colin’s, from English Home to DeFacto, have closed their around 200 stores in the country for security reasons.

Where is the gold?

Gold, which investors see as a safe haven, rose to $ 1,975 with a daily increase of 3.5 percent in terms of ounce.

This momentum continues with the negative correlation between Bitcoin and the precious metal this year. While gold prices have increased by about 8% since the beginning of the year, the world’s largest cryptocurrency Bitcoin has lost almost half of its value since November, and has lost 25 percent since the beginning of the year.

With the recent downtrend, Bitcoin has started to move away from the view of a gold alternative with its decentralized nature and volatile price action.

The oil jumped

Oil prices rose more than 7% today after Russia invaded Ukrainian territories. The barrel of Brent oil exceeded 100 dollars with an increase of more than 6 percent. The barrel price of Brent oil has reached 105 dollars for the first time since June 2014. US light crude rose around 7 percent to $99.8.

While Russia’s military intervention in Ukraine created unease in energy and food markets, natural gas prices in Europe increased by 27 percent in March futures contracts. While Russia supplies about one-third of the natural gas imported by Europe, about 25 percent of the said shipments are sent via Ukraine. Russian energy company Gazprom announced today that it continues to deliver natural gas via Ukraine in line with the contracts.

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