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Turkey Stocks: Asya Katilim, Turkcell, Vakifbank Were Active

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March 8 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index rose 0.3 percent to 59,673.75 at the close in Istanbul, increasing for a second day.

The following stocks were active. Stock symbols are in parentheses.

Asya Katilim Bankasi AS (ASYAB TI), an Islamic bank, climbed 1.1 percent to 1.82 liras, outperforming the overall banking index, which fell less than 0.1 percent. A private equity firm is close to buying discount retailer A101 Yeni Magazicilik AS, in which Bank Asya owns a 22 percent stake, according to a Dow Jones Newswires report.

Turkcell Iletisim Hizmetleri AS (TCELL TI), Turkey’s largest mobile-phone company, added 2.4 percent to 9.44 liras. Turkey is working on abolishing its special communications tax, according to CNBC-e television today.

Turkiye Vakiflar Bankasi TAO (VAKBN TI), a state-run bank, fell 0.7 percent to 3.05 liras. Vakifbank is seeking to refinance a $1 billion loan maturing this month and may pay 95 basis points more than the London interbank offered rate for the 1-year term loans in U.S. dollars and euros, according to data compiled by Bloomberg, compared with an average rate for Turkish banks of 74 basis points last year. The bank may also pay 50 basis points in fees.

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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