Turkish Stocks: Finansbank, Halkbank, Demir Dokum Are Active
Turkey’s benchmark ISE National 100 Index rose 895.33, or 1.4 percent, to 67,230.75 by the 5:30 p.m. close in Istanbul. The index had fallen as much as 1.3 percent in the day before rallying after Fitch Ratings revised the outlook on Turkey’s BB+ long-term local and foreign currency bond rating to positive from stable.
The following were among the most active stocks in the Turkish market. Symbols are in parentheses.
Finansbank AS (FINBN TI), the Turkish bank owned by the National Bank of Greece SA, surged the most since Nov. 11, adding 22 kurus, or 4 percent, to 5.74 liras. Finansbank’s secondary public offering of as much as 20 percent may be held in the first quarter of 2011, Chairman Omer Aras said in an interview with CNBC-e television today.
Turkiye Halk Bankasi AS (HALKB TI), the state-run lender, rose 40 kurus, or 2.7 percent, in the biggest gain since Nov. 5, to 15.10 liras. Halkbank said it won regulatory approval to buy a controlling stake in Macedonia’s Izvozna I Kreditna Banka AD Skopje from Demir-Halk Bank NV, in which it has a 30 percent share, in a filing with the Istanbul Stock Exchange today.
Turk Demir Dokum Fabrikalari AS (TUDDF TI), the Turkish heating equipment and air conditioner manufacturer owned by German Vaillant Group, snapped two days of declines, rising 30 kurus, or 2.69 percent at 11.45 liras. Demir Dokum co-signed a guarantee agreement for a 120 million-euro ($160 million) credit facility to Vaillant GmbH & Company from the European Investment Bank for research and development, Demir Dokum said in a statement to the Istanbul Stock Exchange today. The bourse suspended trading in Demir Dokum shares for about an hour earlier today and resumed trading after the company statement was released.
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