Turkish Stocks: Dardanel, Otokar, Sekerbank, Turkcell Move
Turkey’s benchmark ISE National 100 Index (XU100) rose 0.6 percent to 59,285.68 at the close in Istanbul, increasing for a second day and paring its loss on the week to 2.2 percent.
The following shares were active. Stock symbols are in parentheses.
Dardanel Onentas Gida Sanayi AS (DARDL TI), a Turkish producer of frozen and canned food, plunged the most since June 2008, dropping 13.7 percent to 1.26 liras after talks with ADM Capital and Turkey’s Yildiz Holding AS for a sale of stake ended. The company, which trades on the exchange’s “watchlist market” for firms under heightened supervision, ended the talks after failing to reach an agreement on its debt payments to banks, it said in a filing to the Istanbul Stock Exchange after the market closed yesterday. It will continue to seek partners and hold talks to restructure loan repayments.
Otokar Otomotiv & Savunma Sanayi AS (OTKAR) , a Turkish producer of buses and military trucks, fell 2.3 percent to 30.20 liras after first-quarter profit declined 31 percent. Net income retreated to 6.33 million liras ($3.6 million) from 9.19 million liras a year ago, the company said in a statement to the exchange today.
Sekerbank TAS (SKBNK) , a Turkish lender, rose the most since Jan. 12, gaining 4.3 percent to 97 kurus after reporting that first-quarter profit doubled to 60.7 million liras from a year earlier, beating estimates.
Turkcell Iletisim Hizmetleri AS (TCELL) , Turkey’s biggest mobile-phone operator, surged 3.9 percent to 8.98 liras, the biggest gain since Dec. 20, after profit in the first quarter rose 56 percent, beating estimates. Net income increased to 514.8 million liras from 330.1 million liras a year earlier, the company said in a statement to the exchange after the close yesterday.
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