Coca-Cola Icecek, Garanti: 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 (XU100) rose 14.33 to 64,261.33 yesterday.
Coca-Cola Icecek AS (CCOLA) : The Turkish bottler of coke drinks said net income last year increased to 197.7 million liras ($127 million) from 169.6 million liras in 2009, according to a statement to the Istanbul Stock Exchange after the market closed yesterday. The 2010 profit missed an average estimate of 213.3 million liras in a Bloomberg survey of 20 analysts. Coca- Cola Icecek gained 35 kurus, or 1.9 percent, to 18.95 liras.
Finansbank AS (FINBN TI): The Turkish bank owned by National Bank of Greece SA, will apply to regulators to sell as much as $750 million of bonds, with maturities of five to seven years, to investors outside Turkey, it said in a statement to the bourse after the market closed yesterday. Finansbank advanced 4 kurus, or 0.8 percent, to 5.40 liras.
Hurriyet Gazetecilik & Matbaacilik AS (HURGZ TI): The publisher of Turkey’s Hurriyet newspaper said losses last year widened to 40.1 million liras from 35.1 million liras in 2009 in a statement to the bourse after the close yesterday. The company was expected to have a profit of 34.7 million liras, according to the average estimate of nine analysts in a Bloomberg survey. Hurriyet was unchanged at 2.02 liras.
Turkiye Garanti Bankasi AS (GARAN) : The Turkish bank in which Banco Bilbao Vizcaya Argentaria SA bought a 24.9 percent stake, was cut to “sell” from “neutral” at Goldman Sachs Group Inc., according to a report today. Garanti fell 4 kurus, or 0.5 percent, to 7.46 liras.
To contact the reporter on this story: Aydan Eksin in Istanbul at firstname.lastname@example.org
To contact the editor responsible for this story: Shaji Mathew at email@example.com