Coca-Cola Icecek, Metro, Turk Telekom: Turkey 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) fell 517.25, or 0.8 percent, to 62,743.81 yesterday.
Coca-Cola Icecek AS (CCOLA) : The bottler of Coke drinks in 10 countries including Turkey and central Asia, said sales volume increased an annual 15 percent to 219.4 million unit cases in the second quarter. Domestic sales climbed 11 percent to 153.4 million unit cases in Turkey and 25 percent to 66 million unit cases outside Turkey, the company said in a statement to the Istanbul Stock Exchange after the market closed yesterday. Coca-Cola Icecek dropped 25 kurus, or 1 percent, to 24.35 liras.
Metro Ticari & Mali Yatirimlar Holding AS (METRO TI): The Turkish group active in transportation, fuel retailing, mining and meat processing, canceled an agreement to buy bus operator Varan Turizm for 30 million euros, Hurriyet newspaper reported, citing Varan chief executive officer Emrah Gultekin. Metro unit Metro Turizm Seyahat and Varan broke off a preliminary sales agreement after problems arose over the use of the brand name, Gultekin said, according to the newspaper. Metro Ticari lost 2 kurus, or 1.9 percent, to 1.01 liras.
Turkiye Garanti Bankasi AS (GARAN) : Turkey’s biggest bank by market value, will apply to regulators to sell as much as 2 billion liras ($1.2 billion) of bonds of different maturities in the domestic market, it said in a statement to the bourse today. Garanti declined 6 kurus, or 0.8 percent, to 7.32 liras.
Turkiye Is Bankasi (ISATR) AS: Turkey’s biggest bank by assets, will offer 600 million liras ($365 million) of bonds maturing on Jan. 25, 2012, according to a filing with the bourse after the market closed yesterday. Isbank fell 4 kurus, or 0.8 percent, to 4.95 liras.
Turk Telekomunikasyon AS (TTKOM TI): Turkey’s biggest phone company, is expected to report a decline in second-quarter profit when it publishes earnings on July 18. Net income may drop an annual 6.1 percent to 564.3 million liras ($342.8 million) in the three months to June, according to the median of nine analysts’ estimates compiled by Bloomberg. Turk Telekom fell 26 kurus, or 3.2 percent, to 7.96 liras.
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