Turkish Stocks: Alarko, Aygaz, Is Bankasi, Tofas Are Active
Turkey’s benchmark ISE National 100 Index gained for a second day, adding 633.18, or 1 percent, to 65,984.03 at 4:03 p.m. in Istanbul.
The following were among the most active stocks in the Turkish market. Symbols are in parentheses.
Alarko Holding AS (ALARK TI): The group with interests in construction, energy, real estate and tourism, rose 5 kurus, or 1.5 percent, after announcing yesterday that it bought a 50 percent stake in power generator Altek from Societe Nationale d’Electricite et de Thermique SA, its partner in Altek, for $58.5 million.
Aygaz AS (AYGAZ TI): The Turkish distributor of liquefied propane gas rose 38 kurus, or 4.9 percent, to 8.20 liras, heading for the biggest daily rally since Oct. 5. The company agreed to sell a 49.6 percent stake in power producer Entek Elektrik Uretimi AS to U.S.-based AES Corp. for $136.5 million, according to a filing with the exchange today. Its parent company, Koc Holding AS (KCHOL TI), Turkey’s biggest group of companies, rose 6 kurus, or 0.9 percent, to 7.12 liras.
Tofas Turk Otomobil Fabrikasi AS (TOASO TI): The maker of Fiat SpA cars in Turkey advanced for a second day, rising 44 kurus, or 5.6 percent, to 8.32 liras after Nomura Holdings Inc. raised its price estimate to 10.8 liras from 8.5 liras.
Turkiye Is Bankasi AS (ISCTR TI): The country’s biggest bank by assets rose 4 kurus, or 0.7 percent, to 5.86 liras after saying it would apply to regulators to sell as much as 5 billion liras ($3.3 billion) of bonds in the domestic market. Is Bank didn’t say when it might sell the bonds.
To contact the editor responsible for this story: Peter Hirschberg in Jerusalem at email@example.com.