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Turkish Stocks: Emlak Konut, Sinpas REIT Shares Are Active

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Dec. 3 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index was set to gain for a fourth day, adding 125.65, or 0.2 percent, to 67,064.73 at 2:35 p.m. in Istanbul.

The following were among the most active stocks in the Turkish market. Symbols are in parentheses.

Emlak Konut Gayrimenkul Yatirim Ortakligi AS (EKGYO TI), the state-run property developer that began trading on the exchange yesterday rose 24 kurus, or 12.6 percent, to 2.14 liras. The exchange said today it will include Emlak Konut on the National 100, National 50 and National 30 indexes from Dec. 9. The shares were the most traded on the exchange for the second straight day.

Sinpas Gayrimenkul Yatirim Ortakligi AS (SNGYO TI), a real estate developer, rose 4.7 percent, or 10 kurus, to 2.25 liras . The stock was upgraded to “overweight” from “neutral” at HSBC Holdings Plc citing a “turnaround in a weak performance throughout 2010 with the help of new in-house financing schemes” in an e-mailed report today. HSBC raised its price estimate for Sinpas to 3 liras from 2.08 liras.

To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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