Turkish Stocks: Afyon Cimento, Arcelik, Halkbank, Kardemir Move

Turkey’s benchmark ISE National 100 Index gained 0.3 percent to 60,030.14 at the close in Istanbul.

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

Afyon Cimento Sanayi TAS (AFYON) , a cement producer, plunged 18 percent to 91.5 liras after owner Ciments Francais SA (CMA) agreed to sell its 51 percent stake in the company to Haci Omer Sabanci Holding AS’s cement unit Cimsa Cimento Sanayi & Ticaret AS (CIMSA TI) for 57.5 million liras ($33 million). That compares to Afyon’s total market value of 334.5 million liras at the open today, according to data compiled by Bloomberg.

Arcelik AS (ARCLK) , Turkey’s largest producer of household appliances, fell 1.1 percent to 7.56 liras after reporting fourth quarter income slid to 92.1 million liras, lagging the 140.8 million-liras average of 10 analyst estimates in a Bloomberg survey.

Kardemir Karabuk Demir Celik Sanayi & Ticaret AS (KRDMD TI), a steelmaker, rose 2.4 percent to 87 kurus after it made “the best bid” of 26.7 million euros ($35 million) in an auction to supply 41,500 metric tons of railway track for the state railroads company, Kardemir said in a statement to the stock exchange.

Turkiye Halk Bankasi AS (HALKB) , a state-run bank, fell 1.6 percent to 12.10 liras after reporting fourth-quarter profit of 504.3 million liras, missing analyst estimates.

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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