Ford Otosan, Marti GYO: Turkey Equity Market Preview
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 fell 540.94, or 0.8 percent, to 68,770.29 on Jan. 7.
Ford Otomotiv Sanayi AS (FROTO TI): The venture of Ford Motor Co. and Turkey’s Koc Holding AS increased its sales to about 8 billion liras ($5 billion) last year from 5.5 billion liras in 2009, Hurriyet reported, citing chief executive Nuri Otay. The company aims to produce 250,000 cars and vans this year after increasing its 2010 output by 40 percent to 242,000 units, the newspaper cited Otay as saying. Ford Otosan dropped 15 kurus, or 1 percent, to 14.65 liras.
Marti Gayrimenkul Yatirim Ortakligi AS (MRGYO TI): The Turkish real estate investment trust paid 4.9 million liras ($3.1 million) to lease land in Marmaris from the Finance Ministry, it said in a statement to the Istanbul Stock Exchange after markets closed on Jan. 7. Marti GYO won an auction to lease the land adjacent to a hotel run by Marti Otel Isletmeleri AS (MARTI TI) for 49 years, with the right to use it for tourism, education, industrial or cultural purposes, the company said. Marti GYO rose 5 kurus, or 4.6 percent, to 1.13 liras.
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