Bloomberg News

Turkish Stocks: Garanti, Sabanci, Petkim, Sekerbank Are Active

September 28, 2011

Sept. 28 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index rose for a third day, climbing 727.19, or 1.3 percent, to 58,988.46 at the 5:30 p.m. close in Istanbul.

The following stocks were active. Symbols are in parentheses.

Haci Omer Sabanci Holding AS (SAHOL TI), Turkey’s second biggest group of companies, increased 22 kurus, or 3.5 percent, to 6.48 liras, the biggest gain in more than a week. Turkey’s state-asset sales agency may offer the power grid on the Asian side of Istanbul to Enerjisa Enerji Uretim AS, the power company jointly owned by Sabanci and Austria’s Verbund AG, Vatan newspaper reported today.

Petkim Petrokimya Holding AS (PETKM TI), Turkey’s biggest chemicals maker, gained 4 kurus, or 1.7 percent, to 2.41 liras, its highest since Aug. 16. Petkim will sell its air separation unit for $39 million and lease the land on which it stands to Air Liquide SA’s Turkish unit by Sept. 30, the company said in a statement after the market closed yesterday.

Sekerbank TAS (SKBNK TI), a Turkish bank part-owned by Kazakhstan’s BTA Bank JSC, rose 3 kurus, or 3.3 percent, to 93 kurus, advancing for a second day. BTA is seeking a buyer for its 34 percent stake, according to a report in the Wall Street Journal.

Turkiye Garanti Bankasi AS (GARAN TI), Turkey’s largest bank by market value, gained 18 kurus, or 2.6 percent, to 7.24 liras, leading gains by index points in the benchmark stock index. Traders are betting the central bank will move to reverse an increase in reserve requirements, according to Mine Yoruk, a trader at Erste Securities in Istanbul. The banking index climbed 2.1 percent.

--Editors: Stephen Kirkland, Peter Branton

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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