June 21 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index jumped 1.8 percent to 60,439.83, making it the best-performing stock gauge among major world markets today at the close in Istanbul. The measure is up 9.7 percent this month, having advanced in 14 of the past 15 days.
The following shares were active. Stock symbols are in parentheses.
Koc Holding AS (KCHOL TI), Turkey’s largest group of companies, climbed 2.8 percent to 6.66 liras, the highest since April 12. Koc, along with Turkey’s biggest lender by market capitalization, Turkiye Garanti Bankasi AS, and state-run banks Turkiye Halk Bankasi AS and Turkiye Vakiflar Bankasi AS, were named top picks by JPMorgan Chase & Co. today as it raised Turkish stocks to overweight from neutral. Falling oil prices are a huge benefit to Turkey, which has the best long-term growth outlook on account of cheap-to-fair valuations, JPMorgan analysts Adrian Mowat and David Aserkoff said in a report.
Garanti climbed 2.4 percent to 6.76 liras. Halkbank surged 4.7 percent to 14.35 liras, the strongest level since December 2010, and Vakifbank advanced 1.8 percent to 3.48 liras.
Turk Hava Yollari AO (THYAO TI), or Turkish Airlines, rose the highest in more than 10 months, adding 5.2 percent to 3.03 liras, after Chief Executive Officer Hamdi Topcu said it will order at least 15 large aircraft as early as next month and is also looking at about 10 acquisition prospects with no upper limit on transaction size. The volume of shares traded was more than 2 1/2 times the stock’s three-month average.
To contact the reporter on this story: Benjamin Harvey in Istanbul at firstname.lastname@example.org
To contact the editor responsible for this story: Gavin Serkin at email@example.com