Turkish Stocks: Anadolu Efes, Coca-Cola Icecek, Turk Traktor
The following stocks were active. Symbols are in parentheses.
Coca-Cola Icecek AS (CCOLA) , the bottler of Coca-Cola drinks in Turkey, added 70 kurus, or 3.3 percent, to 21.75 liras after dropping 5.6 percent Sept. 23. The company is investing $450 million to expand in Pakistan, Hurriyet reported.
Anadolu Efes Biracilik & Malt Sanayii AS (AEFES TI), the Middle East’s biggest brewer which holds a 40 percent stake in Coca-Cola Icecek, gained 75 kurus, or 3.7 percent, to 21 liras. The shares fell 8 percent on Sept. 23.
Saglam Gayrimenkul Yatirim Ortakligi AS (SAGYO) , a real- estate developer owned by Yildiz Holding AS, surged the most since May 2009, increasing 25 kurus, or 19 percent, to 1.57 liras. The company got approval from the market regulator to merge with Saf Gayrimenkul Gelistirme Insaat & Ticaret AS and to increase its capital to 886.6 million liras ($480 million), it said in a statement to the exchange today.
Turk Traktor & Ziraat Makineleri AS (TTRAK TI), a farm- vehicle manufacturer, snapped three days of declines, rising 1.50 liras, or 4.4 percent, to 35.70 liras. Turkey is planning incentives to encourage the scrapping of tractors more than 25 years old, Prime Minister Recep Tayyip Erdogan said at a Turk Traktor ceremony in Ankara today.
Turkiye Vakiflar Bankasi AS (VAKBN TI), a state-run bank, added 15 kurus, or 4.4 percent, to 3.55 liras while Yapi & Kredi Bankasi AS (YKBNK TI) added 1 kurus, or 0.3 percent, to 3.64 liras and Albaraka Turk Katilim Bankasi AS (ALBRK) , an Islamic bank, rose 3 kurus, or 1.7 percent, to 1.82 liras. The three banks were raised to “overweight” at HSBC Holdings Plc.
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