Gubre, Netas, Turkish Airlines, Zorlu: Turkey Stocks Preview

The following stocks may be active in the Turkish market. Symbols are in parentheses and prices are from the last close.

Istanbul’s benchmark ISE National 100 Index (XU100) rose 739.89, or 1.4 percent, to 53,707.56 on Aug. 26. Stock trading will close at 12:30 p.m. in Istanbul today for the beginning of a holiday and reopen Sept. 2.

Gubre Fabrikalari TAS (GUBRF) : The fertilizer producer said second-quarter profit retreated to 21.3 million liras ($12 million) from 47.8 million liras in the same period last year, according to a statement made to the exchange after the market close. The shares fell 5 kurus, or 0.4 percent, to 11.60 liras.

Netas Telekomunikasyon AS (NETAS TI): The telecommunications company signed an agreement to buy wholesale distributor Probil Bilgi Destek & Danismanlik Sanayi & Ticaret AS for $31 million, Hurriyet reported Aug. 27. The purchase will help Netas meet its goal of becoming a leader in systems integration in Turkey and the region, the newspaper said citing general manager Mujdat Altay. The stock was unchanged at 115 liras.

Turk Hava Yollari (THYAO) AO: The national carrier known as Turkish Airlines reported a second-quarter loss of 220.6 million liras compared with a profit of 165.7 million liras in the same period last year, according to a statement sent to the exchange after the market close. The shares gained 2 kurus, or 0.8 percent, to 2.41 liras.

Zorlu Enerji Elektrik Uretim AS (ZOREN) : The energy producer said its second-quarter loss widened to 133.4 million liras from 19 million liras the previous year, worse than the 72 million liras projected by analysts on Bloomberg. The shares were unchanged at 1.69 liras.

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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