Garanti, Sabanci, Turkish Airlines: Turkish Equity Preview
Stock Chart for Turkiye Garanti Bankasi AS (GARAN)
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 183.80, or 0.3 percent, to 63,002.88 yesterday.
Turkiye Garanti Bankasi AS (GARAN) : Banco Bilbao Vizcaya Argentaria SA (BBVA) wants a controlling stake in Turkey’s largest listed lender, Expansion reported, citing BBVA President Angel Cano. The Spanish bank already owns 24.9 percent of Garanti and will increase its holding over the next two or three years to gain control, the newspaper said. Garanti fell 6 kurus, or 0.8 percent, to 7.34 liras yesterday.
Haci Omer Sabanci Holding AS (SAHOL) : The winning bidders in power grid tenders are required to make an extra down payment to the Privatization Administration today. Enerjisa, a joint venture between Sabanci Holding and Verbund AG (VER), was invited to purchase the Akdeniz grid after Park Holding withdrew. Sabanci lost 4 kurus, or 0.6 percent, to 6.86 liras.
Turk Hava Yollari (THYAO) AO: The national carrier known as Turkish Airlines had its price estimate cut to 4.9 liras per share at Morgan Stanley, which cited higher oil prices and a declining load factor in an e-mailed report today. The shares dropped 5 kurus, or 1.2 percent, to 4.23 liras.
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