Turkish Equity Movers: Akbank, Demirdokum, Turk Tuborg Move

Turkey’s benchmark ISE National 100 Index (XU100) rose for a second day, gaining 450.09, or 0.7 percent, to 61,566.83 at 3:05 p.m. in Istanbul, paring losses in the week to 3.4 percent.

The following stocks were active. Stock symbols are in parentheses.

Akbank TAS (AKBNK) , the bank part-owned by Citigroup Inc., gained 10 kurus, or 1.4 percent, to 7.42 liras. Turkey needs to take steps to narrow the current-account gap and “clarify the situation” for investors who are “confused” and withdrawing capital from the country, Chief Executive Officer Ziya Akkurt said.

Turk DemirDokum Fabrikalari AS (TUDDF TI), a heating and air conditioner manufacturer owned by German Vaillant GmbH & Co., gained 45 kurus, or 2.5 percent, to 18.20 liras, heading for its highest close since September. DemirDokum began exporting solar panels to Vaillant this year, Hurriyet newspaper quoted sales director Erdem Ertuna as saying.

Turk Tuborg Bira & Malt Sanayii AS (TBORG TI), a brewer owned by CBC Group, jumped 23 kurus, or 5 percent, to 4.87 liras, heading for the highest in almost nine years. The company signed an agreement to import Anheuser-Busch InBev NV (ABI)’s Leffe and Hoegaarden brands to Turkey, Turborg said in a statement to the Istanbul Stock Exchange today.

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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