Gubretas, Koc Holding, TEB: 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 801.83, or 1.3 percent, to 64,565.63 yesterday.
Gubre Fabrikalari TAS (GUBRF) : The Turkish fertilizer producer reported a net income of 119.9 million liras ($77 million) last year, compared with a loss of 59.1 million liras in 2009, according to a statement to the Istanbul Stock Exchange today. The company, known as Gubretas, was expected to earn 159.4 million liras profit, according to the average estimate of six analysts in a Bloomberg survey. Gubretas was unchanged at 16.25 liras.
Koc Holding AS (KCHOL) : Turkey’s biggest group of companies signed an agreement with Sweden’s Stena AB to jointly bid in Istanbul municipality’s auction to sell its ferry company IDO. Koc unit Deniz Turizm Yatirimlari AS will hold a majority stake in the consortium, the holding said in a statement to the bourse after the market closed yesterday. Koc Holding gained 4 kurus, or 0.6 percent, to 7.12 liras.
Turk Ekonomi Bankasi AS (TEBNK) : BNP Paribas SA, which holds a majority stake in the Turkish bank, known as TEB, will apply to Turkey’s market regulator to buy TEB shares at 2.21 liras each from minority shareholders, BNP’s two Turkish units said in a statement to the bourse after the market closed yesterday. TEB rose 1 kurus, or 0.6 percent, to 1.83 liras.
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