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Arcelik, Bagfas, Yapi Kredi Sigorta: Turkish Equity Preview

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Feb. 28 (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 rose 606.52, or 1 percent, to 61,367.34 on Feb. 25.

Arcelik AS (ARCLK TI): Turkey’s biggest maker of refrigerators and washing machines was cut to ‘hold’ from ‘buy’ at ING Groep NV, which lowered the price estimate to 8 liras from 8.65 liras, according to a report today. Arcelik gained 12 kurus, or 1.7 percent, to 7.32 liras.

Bagfas Bandirma Gubre Fabrikalari AS (BAGFS TI): The Turkish fertilizer producer swung to a profit of 47 million liras ($29 million) last year, exceeding the average estimate of 39.4 million liras in a Bloomberg survey of six analysts. Bagfas said it plans to distribute a 6.5774-lira gross dividend per share from May 18. Bagfas advanced 10.5 liras, or 6.4 percent, to 175 liras.

Yapi Kredi Sigorta AS (YKSGR TI): Turkey’s second biggest listed insurer by market value swung to 42.5 million liras profit in 2010 after a loss of 11.9 million liras a year earlier, according to a filing with the bourse after the close on Feb. 25. Profit was predicted at 34.4 million liras, according to a Bloomberg survey of 5 analysts. Yapi Kredi Sigorta rose 50 kurus, or 3.9 percent, to 13.45 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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