Akbank, BIM, Efes, Turk Telekom: Turkey Stock 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 610.16, or 1 percent, to 62,024.97 yesterday.
Akbank TAS (AKBNK) : Turkey’s second-largest bank by market value will sell 500 million liras ($301 million) of 175- day bonds to pay for similar debt coming due July 29, it said in a statement after the market closed yesterday. Akbank dropped 8 kurus, or 1.1 percent, to 7.2 liras.
Anadolu Efes Biracilik & Malt Sanayii AS (AEFES TI): The Middle East’s biggest brewer is expected to receive a ruling today from the antitrust regulator on whether its distribution unit Efes Pazarlama & Dagitim Ticaret AS complied with a 2005 ruling barring exclusivity clauses in beer distributors’ agreements with retailers. The shares rose 5 kurus, or 0.2 percent, to 22.05 liras.
BIM Birlesik Magazalar AS (BIMAS) : The discount supermarket chain failed to conclude a partnership agreement with Savola Group for business in Saudi Arabia and the two sides ended talks, BIM said after the exchange closed yesterday. The shares fell 25 kurus, or 0.5 percent, to 54 liras.
Turkiye Halk Bankasi AS (HALKB) : The state-owned bank got approval from the banking regulator to sell as much as 3 billion liras worth of bonds. The shares lost 15 kurus, or 1.3 percent, to 11.2 liras.
Turk Telekomunikasyon AS (TTKOM) : Turkey’s largest phone company reported second-quarter profit fell to 505.7 million liras, less than the 555.4 million liras average estimate of 13 analysts in a survey compiled by Bloomberg. The shares were unchanged at 8 liras.
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