Jan. 7 (Bloomberg) -- 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 advanced for the fourth day, rising 482.27, or 0.70 percent, to 69,311.23 yesterday.
Asya Katilim Bankasi AS (ASYAB TI): The Islamic lender based in Istanbul will establish a life insurance and pension unit with a start-up capital of 20 million liras, it said in a statement to the Istanbul Stock Exchange after markets closed yesterday. Asya Katilim rose 8 kurus, or 2.7 percent, to 3.05 liras, gaining for a second day.
Coca-Cola Icecek AS (CCOLA TI): Ozgorkey Holding AS, which holds a 5 percent stake in the Turkish bottler and distributor of beverages, applied to the exchange sell 2.54 million Coca-Cola Icecek shares, or a 1 percent stake, according to a filing from the bourse yesterday. The stock fell 40 kurus, or 2 percent, to 20.15 liras.
Denizbank AS (DENIZ TI): The Turkish bank’s owner Dexia SA has 12 investors interested in the life insurance unit of Denizbank, which is worth between 200 million euros and 300 million euros, French daily Les Echos reported, citing two unidentified people. It’s also seeking a distribution partner for non-life products for Denizbank’s insurer, the paper said. Denizbank fell 20 kurus, or 1.7 percent, to 11.95 liras.
Turkiye Is Bankasi AS (ISCTR TI): Turkey’s biggest listed bank by assets said the tax office demanded it pay 632 million liras ($407 million) in backtaxes and charges, and Isbank won an initial court case to overturn it. The case is now at Turkey’s top administrative court, Isbank said in a filing with the bourse after markets closed yesterday. The stock rose 2 kurus, or 0.3 percent, to 5.82 liras, gaining for the fourth day.
Turk Telekomunikasyon AS (TTKOM TI): The landline and mobile phone operator was cut to “neutral” from “buy” at Nomura Equity Research. The “period of significantly above-expectation operating improvements is unlikely to repeat,” Nomura said in an emailed report today. It set a price estimate for the share of 7.2 liras compared with a previous 5.8 liras. Turk Telekom was unchanged at 6.84 liras.
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