Turkish Stocks: Alarko, Euro Menkul, Ford, Saglam, Yapi Kredi
The following stocks were active. Symbols are in parentheses.
Alarko Holding AS (ALARK) , a building and energy company, gained 11 kurus, or 3.6 percent, to 3.20 liras, the highest close since Aug. 4. The company is seeking partners to bid to build a third Bosporus bridge in Istanbul and targets 8 percent growth this year, Chief Executive Officer Ayhan Yavrucu said in an interview with CNBC-e television today.
Euro Yatirim Menkul Degerler AS (EUROM) , a Turkish broker, jumped 6 kurus, or 7.3 percent to its highest close since July after saying it hired an advisor to buy a bank abroad.
Ford Otomotiv Sanayi AS (FROTO) , Ford Motor Co.’s unit in Turkey, gained 45 kurus, or 3.4 percent, to 13.60 liras. The company plans to pay an interim dividend of 217.2 million liras ($117.6 million), or 0.619 lira per share, on Oct. 27, it said in a statement after the market closed yesterday.
Saglam Gayrimenkul Yatirim Ortakligi AS (SAGYO) , a real- estate developer owned by Yildiz Holding AS, surged for a second day, increasing 20 kurus, or 13 percent, to 1.77 liras, its highest since July 14. 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, it said in a statement to the exchange yesterday.
TSKB Gayrimenkul Yatirim Ortakligi AS (TSGYO) , a real- estate trust owned by investment bank Turkiye Sinai Kalkinma Bankasi AS (TSKB) , rose 1 kurus, or 1.6 percent, to 63 kurus, the first increase in a week. The company said it received a permit to build in the Mediterranean city of Adana, where it plans a five-star hotel with about 200 rooms.
Yapi & Kredi Bankasi AS (YKBNK TI), UniCredit SpA’s unit in Turkey, added 14 kurus, or 3.9 percent, to 3.78 liras, a second day of gains. The bank was raised to “overweight” at HSBC Holdings Plc yesterday and was named the “top pick” among Turkish banks by Standard Bank’s Istanbul-based brokerage, Standard Unlu.
Albaraka Turk Katilim Bankasi AS (ALBRK) , an Islamic bank, gained 5 kurus, or 2.8 percent, to 1.87 liras. Standard Unlu said it was the top pick among mid-cap Turkish banks.
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