Turkish Stocks: Anadolu Hayat, Borusan, Vakifbank Are Active
Turkey’s benchmark ISE National 100 Index (XU100) fell 0.9 percent to 60,131.94 at the close in Istanbul, its lowest since April 10.
The following shares were active. Stock symbols are in parentheses.
Anadolu Hayat & Emeklilik AS (ANHYT) , the biggest listed pension fund in Turkey, rose for a second day, adding 2.6 percent to 3.95 liras. The company will be the “major beneficiary” of the government’s plan to encourage private savings through incentives for pension contributions, Bank of America Merrill Lynch said today.
Borusan Mannesmann Boru Sanayi & Ticaret AS (BRSAN) , a producer of steel and plastic pipes, gained 1.5 percent to 26.90 liras, its highest since Nov. 10, after its parent company Borusan Holding AS said it increased revenue 22 percent in 2011 to $4.3 billion and is planning acquisitions.
Borusan Yatirim & Pazarlama AS (BRYAT) , which has interests in the automotive and energy industries, advanced 2.8 percent to 10.90 liras.
Turkiye Vakiflar Bankasi TAO (VAKBN) , a state-run lender, retreated 2.1 percent to 3.24 liras as UBS Investment Research recommended investors sell the shares, saying relative valuation was “not attractive.”
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