April 29 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index rose the most in two weeks, gaining 809.9, or 1.2 percent, to 69,250.14 at the 5:30 p.m. close in Istanbul.
The following stocks were active. Symbols are in parentheses.
Akfen Holding AS (AKFEN TI), a builder, rose 15 kurus, or 1.2 percent, to 12.2 liras, a nearly three-month high, after saying it got approval from the market regulator for an initial public offering for its real estate unit Akfen Gayrimenkul Yatirim Ortakligi. Akfen will sell as many as 54.1 million shares in the unit at a range of between 2.05 liras and 2.5 liras, it said.
Aksu Enerji & Ticaret AS (AKSUE TI), a power generator, fell the most since January 2009, dropping 56 kurus, or 8.9 percent, to 5.72 liras after its request to extend a deadline to buy two hydroelectric power plants it won at a government auction last year was rejected. Turkey’s privatization board said the deal must be completed by May 2 or Aksu’s guarantee will be converted to cash and actions started to turn the plants over to the second highest bidder, Aksu said. The second highest bidder was Bati Cim Enerji, CNN-Turk reported.
Ford Otomotiv Sanayi AS (FROTO TI), Ford Motor Co.’s Turkish unit, extended a record high to 15.45 liras, gaining 45 kurus, or 3 percent. The company was raised to “outperform” at Oyak Securities today by equity analyst Cemal Demirtas after it doubled first-quarter profit.
Goodyear Lastikleri Turk AS (GOODY TI), the Turkish unit of Goodyear Tire & Rubber Co. surged 14 percent to 54.25 liras, a record high. First-quarter profit more than quadrupled to 25.2 million liras ($17 million) from 5.75 million liras in the same period in 2010, it said in a statement to the Istanbul Stock Exchange after the market closed yesterday. The shares have more than doubled since the beginning of the year.
Kordsa Global Endustriyel Iplik & Kord Bezi Sanayi & Ticaret AS (KORDS TI), a producer of cord fabric used in tires, rose to a five-year high, gaining 12 kurus, or 2.6 percent, to 4.8 liras. The company targets $1 billion in sales this year after $850 million last year, Hurriyet newspaper reported citing Chief Executive Officer Hakan Tiftik.
Koza Altin Isletmeleri AS (KOZAL TI), a gold miner, climbed 45 kurus, or 1.9 percent, to a record high 23.85 liras. First-quarter profit doubled to 83.1 million liras, exceeding estimates, according to a statement to the exchange today.
Park Elektrik Uretim Madencilik Sanayi & Ticaret AS (PRKME TI), a power generator and miner, rose 11 kurus, or 2.6 percent, to 4.39 liras after reporting net income in the first quarter more than quadrupled to 23.8 million liras from 5.48 million liras a year ago, according to a statement to the bourse after the market closed yesterday.
Usas Ucak Servisi AS (UCAK TI), an airline caterer, climbed as much as 13 kurus, or 4.9 percent, to 2.80 liras on news of a possible sale before closing little changed at 2.67 liras. Owner Gate Gourmet Participations Espana SL signed confidentiality agreements with “several interested bidders” and may negotiate with one or more to sell Usas shares, Usas said in a statement to the Istanbul Stock Exchange today.
Vestel Beyaz Esya Sanayi & Ticaret AS (VESBE TI), a household-appliances maker, dropped 5 kurus, or 1.5 percent, to 3.24 liras. First-quarter net income fell to 8.63 million liras from 16.2 million liras in the same period of 2010, it said in a filing with the bourse after the market closed yesterday.
To contact the reporter on this story: Benjamin Harvey in Istanbul at email@example.com
To contact the editor responsible for this story: Gavin Serkin at firstname.lastname@example.org