Turkish shares of Anadolu Efes and ENKA surged in expectation of a Russia-Ukraine cease-fire agreement
Market Recap: August 2025
The Turkish stock market saw a significant boost on Thursday, with the BIST 100 index surpassing the 11,018.92 mark for the first time in a year. The index rose by over 1%, representing a 2.5% weekly gain.
Among the top performers was Anadolu Efes, Turkey's leading alcoholic beverage producer. The company's shares climbed over 6% amid ongoing uncertainty surrounding its Russian operations. The Russian government has blocked Anadolu Efes from reclaiming control of its Russian business, despite Turkey's relatively friendly diplomatic ties with Moscow.
Anadolu Efes's attempt to regain control of its Russian operations after the appointment of a government trustee in December 2024 has remained unsuccessful as of August 2025. Despite Anadolu Efes’s efforts to acquire full ownership of the Russian business by buying out AB InBev’s stake, Russian regulators officially rejected the bid in June 2025, effectively blocking the transfer.
Construction and engineering giant ENKA also saw its shares climb 5.05%, the highest since mid-May. ENKA has executed over $11 billion worth of projects in Russia over the past three decades.
Koc Holding, Turkey's largest conglomerate, and its home appliance subsidiary Arcelik each rose more than 1.5%. Sisecam, a Turkey-based glass and chemicals manufacturer, also rose over 1%.
The Turkish central bank resumed interest rate cuts in July with a 300-basis-point reduction. Consumer prices in Turkey increased by 2.06% in July, marking a decrease from the previous month's 2.26%. The annual inflation dropped to 33.52% in July.
The anticipated summit between U.S. President Donald Trump and Russian President Vladimir Putin raised investor hopes. The summit hopes are centered around reduced geopolitical tensions, particularly for Turkish companies operating in Russia.
In the sports world, Feyenoord stunned Fenerbahce with a late winner in the Champions League clash. Meanwhile, Wilfred Ndidi completed his transfer from Leicester City to Besiktas.
A report suggests that Turkey's transport infrastructure needs over $116.42 billion investment by 2035. The next monetary policy meeting is scheduled for Sept. 11.
In the political arena, Italian MPs donned Palestinian colors in solidarity. New tariffs for Turkey in the Champions League came into effect at 15%.
The market remains optimistic, with the positive economic indicators and the potential geopolitical developments providing a promising outlook for the near future.
Inflation in Turkey dropped to 33.52% in July, a decrease from the previous month, as the Turkish central bank resumed interest rate cuts in July with a 300-basis-point reduction.
even though the Russian government has blocked Anadolu Efes, Turkey's leading alcoholic beverage producer, from reclaiming control of its Russian business, its shares still climbed over 6% amid ongoing uncertainty surrounding its Russian operations.
despite the anticipated summit between U.S. President Donald Trump and Russian President Vladimir Putin raising investor hopes, the weather in Istanbul for the meeting remains uncertain, with forecasts calling for a 40% chance of rain.
