Bloomberg News

Turkish Stocks: Denizbank, Halkbank, Koza Altin, Yapi Kredi

October 04, 2011

Oct. 4 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index fell for a third day, dropping 2,250.50, or 3.8 percent, to 57,209.16 at the 5:30 p.m. close in Istanbul.

The following stocks were active. Symbols are in parentheses.

Denizbank AS (DENIZ TI), Dexia SA’s unit in Turkey, dropped 24 kurus, or 2.9 percent, to 8.10 liras. Dexia may seek to sell Denizbank, according to a person with knowledge of a board discussion yesterday over breaking up the Belgian bank.

Koza Altin Isletmeleri AS (KOZAL TI), a gold miner, was the biggest gainer among only four stocks that rose today, adding 50 kurus, or 2.3 percent, to 22.30 liras. JPMorgan’s Eduardo Lecubarri said it was a “top pick” among global small- to mid- sized company shares.

Turkey’s banking index declined 5.2 percent, the most since Sept. 22, as bank stocks worldwide dropped 2.5 percent, according to the Bloomberg World Banks Index.

Turkiye Halk Bankasi AS (HALKB TI), a state-run bank, led declines among banks, dropping 85 kurus, or 6.5 percent, to 12.15 liras, its biggest loss since Aug. 10.

Akbank TAS (AKBNK TI), the bank part-owned by Citigroup Inc., dropped 44 kurus, or 6.1 percent, to 6.76 liras.

Yapi & Kredi Bankasi AS (YKBNK TI), the bank joint-owned by Koc Holding and UniCredit SpA, plunged 21 kurus, or 5.1 percent, to 3.88 liras.

Turkiye Garanti Bankasi AS (GARAN TI), Turkey’s biggest bank by market value, dropped 36 kurus, or 5.1 percent, the most since Sept. 22, to 6.76 liras.

--Editors: Ana Monteiro, Wojciech Moskwa

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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