Istanbul Stock Exchange starts the week at a new high, surpassing 11,500 points

The global stock market landscape showed a mixed picture on Monday, as optimism that emerged in Asian markets failed to propel European stocks higher.

In Europe, France's CAC 40 dropped 0.7%, while Germany's DAX slipped 0.5%. The U.K.'s FTSE traded flat for the day. In contrast, the upbeat sentiment in Asian markets continued, with Hong Kong's Hang Seng rising 2.2% and the Shanghai Composite adding 1.5%.

The BIST 100, Turkey's benchmark stock index, opened at 11,467.97 points on Monday and extended its record-breaking rally. The index reached a new all-time high of 11,517.43 points by mid-morning, but later eased back to 11,477.41 at 11:20 a.m. local time (GMT+3). The BIST 100 closed the previous session at 11,372.33 points, setting a record with a daily trading volume of ₺146 billion ($3.57 billion).

The rally in the BIST 100 was supported by gains in Asian markets earlier in the day, driven by comments from Federal Reserve Chair Jerome Powell at the Jackson Hole Symposium. The optimism in Asian markets was also influenced by supply concerns linked to intensified Ukrainian strikes against Russia, which led to an increase in oil prices at the start of the week.

All sector indices posted increases on Monday, with chemicals, petroleum, and plastics leading the pack with a 1.33% rise. The banking index advanced 1.17% at the market opening.

However, the holding index gained 0.65% at the market opening, but the upbeat sentiment in Asia did not carry over to Europe on Monday. Japan's benchmark index closed 0.4% higher on Monday.

As of 11:20 a.m. local time, Brent crude was trading at $67.95 per barrel, up 0.2%, and U.S. benchmark West Texas Intermediate (WTI) rose 0.4%.

The BIST 100 has made the most profitable weekly rise beyond 5%, marking a positive trend for the Turkish market. Despite the mixed results in Europe, the global market remains volatile, with various factors influencing the daily trading patterns.