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Akbank, Dogan Yayin, Sabanci: Turkey Equity Market Preview

The following stocks may be active in Turkey. Symbols are in parentheses and prices are from the last close.

Turkey’s benchmark ISE National 100 index rose for a third day, gaining 611.38, or 0.9 percent, to 65,973.16 yesterday.

Akbank TAS (AKBNK TI): The Turkish bank part-owned by Citigroup Inc., said it got regulator approval to sell $1.5 billion worth of bonds abroad, according to a statement to the Istanbul Stock Exchange today. Akbank climbed 26 kurus, or 3.3 percent, to 8.14 liras.

Dogan Yayin Holding AS (DYHOL TI): Turkey’s biggest media group said the top administrative court canceled a demand for backtaxes of 444.3 million liras. The total amount including interest requested by the government was 679.9 million liras, Dogan Yayin told the Istanbul Stock Exchange today. Dogan Yayin fell 1 kurus, or 0.5 percent, to 2.09 liras.

Haci Omer Sabanci Holding AS (SAHOL TI): The parent company of Turkey’s second-biggest group agreed to sell 31 percent of its insurer Aksigorta AS for $220 million to Belgium’s Ageas, it said in a statement to the bourse today. Sabanci rose 16 kurus, or 2.4 percent, to 6.92 liras.

Turk Traktor & Ziraat Makineleri AS (TTRAK TI): The Turkish maker of farm machinery, said 2010 profit surged to 179.7 million liras from 31 million liras in 2009, according to a statement to the bourse today. The company was expected to earn 148.9 million liras, according to a Bloomberg survey. Turk Traktor fell 20 kurus, or 0.7 percent, to 26.80 liras.

To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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