Turkish Stocks: Anadolu Sigorta, Arcelik, Petkim Are Active
Turkey’s benchmark ISE National 100 Index (XU100) dropped 1.8 percent to 58,943.71 at the close in Istanbul, falling to the lowest since Feb. 27.
The following shares were active. Stock symbols are in parentheses.
Anadolu Anonim Turk Sigorta Sirketi (ANSGR) , a Turkish non-life insurance company, dropped 2.2 percent to 90 kurus after reporting a first-quarter loss of 7.81 million liras ($4.4 million), compared with a profit of 4.51 million liras in the same period of 2011. The company’s income was hit by a declining market share in the life insurance segment as it focused on growing its pensions, which “have a brighter future,” Neslihan Karagoz, an analyst for Istanbul-based brokerage BGC Partners, said in an e-mailed report today.
Arcelik AS (ARCLK) , Turkey’s largest home appliances maker, jumped as much as 1.3 percent and traded 0.3 percent higher to 7.72 liras after it was upgraded to buy from hold at UniCredit SpA.
Petkim Petrokimya Holding AS (PETKM), Turkey’s biggest chemicals maker, fell 1.4 percent to 2.06 liras, its lowest since Jan. 31, after reporting a first-quarter loss of 7.9 million liras ($4.5 million), missing estimates.
To contact the reporter on this story: Sibel Akbay in Istanbul at firstname.lastname@example.org
To contact the editor responsible for this story: Gavin Serkin at email@example.com