Turkish Stocks: Bim Birlesik, Borusan, Turkish Airlines Move
Stock Chart for Borusan Mannesmann Boru Sanayi ve Ticaret AS (BRSAN)
Turkey’s benchmark ISE National 100 Index rose for the first day in four, gaining 34.60, or 0.1 percent, to 66,462.89 at the 5:30 p.m. close of trading in Istanbul.
The following stocks were active. Symbols are in parentheses.
BIM Birlesik Magazalar AS (BIMAS TI), a discount grocer, rose 50 kurus, or 1 percent, to 53 liras after announcing that it plans to expand into Saudi Arabia. The company has signed a memorandum of understanding with Savola Azizia United Co., a Saudi Arabian food producer, to start a discount retail chain in the Gulf kingdom, it said in a statement to the exchange today.
Borusan Mannesmann Boru Sanayi & Ticaret AS (BRSAN TI), a pipe manufacturer, rose 15 kurus, or 0.8 percent, to 18.55 liras after saying it won a 20.8 million-euro ($28 million) contract from Energinet.dk to supply steel pipes for a 94-kilometer natural gas pipeline in Denmark. The deal equates to around 6 percent of Borusan’s 2009 revenue, and the shares jumped as much as 6 percent in intraday trading after the announcement.
Turk Hava Yollari AO (THYAO TI), the national carrier known as Turkish Airlines, rose 7 kurus, or 1.4 percent, to 5.07 liras. The company was rated a new “buy” today at Erste Bank with a target price of 7.20 liras per share.
To contact the reporter on this story: Benjamin Harvey in Istanbul at firstname.lastname@example.org
To contact the editor responsible for this story: Gavin Serkin at email@example.com
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.