Aksigorta, Bank Asya, Kardemir: Turkish 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 (XU100) rose 612.45, or 1 percent, to 63,781.67 on March 11.

Aksigorta AS (AKGRT) : The Turkish insurer in which Ageas agreed to buy a 31 percent stake last month said full-year profit slid 96 percent to 1.5 million liras ($950,000), according to a filing with the Istanbul Stock Exchange after markets closed on March 11. Aksigorta was expected to earn 4.9 million liras, the average estimate of 11 analysts in a Bloomberg survey showed. Aksigorta dropped 4 kurus, or 2 percent, to 1.97 liras.

Asya Katilim Bankasi AS (ASYAB) : Qatar Islamic Bank (QIBK) acting Chief Executive Officer Ahmad Meshari declined to comment on a report in Haberturk newspaper on March 10 that the bank plans to buy 25 percent of Asya Katilim, an Islamic lender. Qatar Islamic wants to enter the Turkish market, Meshari said in Doha yesterday. Asya Katilim rose 8 kurus, or 2.8 percent, to 2.96 liras.

Kardemir Karabuk Demir Celik Sanayi & Ticaret AS (KRDMD TI): Net income last year was 21.1 million liras, compared with a loss of 72.3 million liras in 2009, the steelmaker said in a filing with the exchange late on March 11. Kardemir was expected to earn 38.1 million liras, according to the average estimate of 10 analysts questioned by Bloomberg. Kardemir rose 1 kurus, or 1.2 percent, to 82 kurus.

To contact the reporter on this story: Mark Bentley in Istanbul at mbentley3@bloomberg.net

To contact the editor responsible for this story: Riad Hamade at rhamade@bloomberg.net

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