Turkish Equity Movers: Aksa Enerji, Eregli Demir, Yapi Kredi
Turkey’s benchmark ISE National 100 Index (XU100) declined 316.12, or 0.5 percent, to 64,213.93 at the 5:30 p.m. close of trade in Istanbul.
The following stocks were active. Symbols are in parentheses.
Aksa Enerji Uretim AS (AKSEN) , the power utility, fell 2 kurus, or 0.5 percent, to 4.47 liras. Aksa said net income last year fell to 59.6 million liras ($38 million) from 83.1 million liras in 2009, according to a statement to the Istanbul Stock Exchange after the market closed yesterday. The company was expected to report profit of 76.6 million liras, according to the average estimate of eight analysts in a Bloomberg survey.
Eregli Demir & Celik Fabrikalari TAS (EREGL TI), Turkey’s biggest steelmaker, rose 26 kurus, or 7 percent, to 3.94 liras, the biggest gain since Aug. 25, 2009. The company reported a profit of 766 million liras compared with a loss a year ago in a filing to the exchange late yesterday. It was expected to earn 692.5 million liras, according to the average estimate of 19 analysts.
Yapi & Kredi Bankasi AS (YKBNK TI), the Turkish lender part-owned by UniCredit SpA, rose 4 kurus, or 0.9 percent, to 4.63 liras. Yapi Kredi will not pay any dividend from 2010 profit, which will be used for provisioning, the bank said in a statement to the bourse after the close yesterday.
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