Akenerji, Dogan, Enka Insaat: 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 (XU100) rose 1,867.55, or 2.8 percent, to 67,581.95 yesterday.

Akenerji Elektrik Uretim AS (AKENR) : The utility owned by the Czech Republic’s CEZ AS and Turkey’s Akkok Group got “a lot of interest” for its assets from “large foreign companies,” Vatan reported, citing Akkok chief executive Mehmet Ali Berkman. Akkok will exit Akenerji with CEZ should they be successful in selling their combined 75 percent stake, Berkman said, according to the Istanbul-based newspaper. Akenerji fell 3 kurus, or 0.8 percent, to 3.56 liras.

Dogan Sirketler Grubu Holding AS (DOHOL TI): The Turkish group with interests in media and energy, will pay 7.97 million liras ($5.2 million) in backtaxes after reducing the amount from 10.7 million liras by applying to the government’s tax debt restructuring program, it said in a statement to the Istanbul Stock Exchange after the market closed yesterday. Dogan Holding gained 2 kurus, or 1.6 percent, to 1.24 liras.

Enka Insaat & Sanayi AS (ENKAI TI): Turkey’s biggest builder will propose to its shareholders’ assembly the distribution of 300 million liras ($196 million) of free shares and 160 million liras in gross dividends from last year’s profit on May 16, it said in a statement to the bourse after the market closed yesterday. Enka Insaat advanced 4 kurus, or 0.7 percent, to 6.18 liras.

Otokar Otomotiv & Savunma Sanayi AS (OTKAR TI): The Turkish vehicle maker got a $9.3 million export order for military vehicles, it said in a statement to the bourse today. Otokar fell 30 kurus, or 1.1 percent, to 26.30 liras.

Turk Telekomunikasyon AS (TTKOM) : Turkey’s biggest telephone company was cut to “hold” at Istanbul-based BGC Partners with a price estimate of 7.87 liras per share, according to an e-mailed report today. Turk Telekom climbed 14 kurus, or 1.8 percent, to 8.08 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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