Turkish Stocks: Ipek Dogal, Halkbank, Nurol, Yapi Kredi Moved
The following were among the active equities in the Turkish market today. Stock symbols are in parentheses.
Ipek Dogal Enerji Kaynaklari & Uretim AS (IPEKE TI), a mining company, dropped 4.2 percent to 3.66 liras after announcing it received regulator approval for a 100 percent rights issue to raise capital to 259.8 million liras ($145 million).
Nurol Gayrimenkul Yatirim Ortakligi AS (NUGYO) , a real estate company, added 2.1 percent to 7.80 liras. Nurol bought Hurriyet Medya Towers, the headquarters of newspaper Hurriyet Gazetecilik & Matbaacilik AS (HURGZ TI), for $127.5 million. The company will pay $17.5 million in advance and the remainder over 32 months, it said in a filing with the stock exchange.
Hurriyet shares closed unchanged at 93 kurus.
Turkiye Halk Bankasi AS (HALKB) , a state-run lender, gained 2.6 percent to 11.85 liras, its highest since Oct. 19. Credit Suisse Group AG kept the bank as “preferred” in Turkey and chief executive Suleyman Aslan said he expected profit would rise 10 percent this year, according to a report in Sabah newspaper.
Yapi & Kredi Bankasi AS (YKBNK TI), the bank part-owned by UniCredit SpA (UCG), rose for a third day, adding 4.6 percent to 3.45 liras. The bank has surged 14 percent since Jan. 24 as UniCredit recovered from a 23-year low this month and after the Federal Reserve’s forcast of “exceptionally low” interest rates through 2014 signaled easing of liquidity conditions and allayed concerns about the Turkish lender’s capital position.
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