Bloomberg News

Turkey Stocks: Aselsan, Denizbank, Finansbank, Park Elektrik

October 11, 2011

Oct. 11 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index rose 0.6 percent to close at 58,664.09, gaining for a third day.

The following stocks were active.

Aselsan Elektronik Sanayi & Ticaret AS (ASELS TI), a defense contractor, jumped the most since June, adding 3.8 percent to 7.64 liras after saying it signed a $173 million contract to provide communications equipment to the Turkish military.

Denizbank AS (DENIZ TI), Dexia SA’s Turkish unit, jumped 8.7 percent to 11.00 liras, bringing its three-day gain to 34 percent. Dexia’s board met yesterday to review a plan under which it could seek buyers for non-core European units including Denizbank. OAO Sberbank, Russia’s largest bank, is evaluating an offer, Sberbank Chief Executive Officer German Gref said today in Moscow.

Finansbank AS (FINBN TI), the bank owned by National Bank of Greece, added 7.7 percent to 3.66 liras on speculation its owner would sell. Finansbank’s gain, the biggest since May, gives it a market value of 8.5 billion liras ($4.6 billion), while its parent is valued at 1.5 billion euros ($2.01 billion).

Park Elektrik Uretim Madencilik Sanayi & Ticaret AS (PRKME TI), a miner, surged 9 percent to 3.16 liras after saying it increased its copper ore measured reserves at a mine in Siirt in southeast Turkey to 31.2 million tons. The gain was the biggest since December.

--Editors: Peter Branton, Gavin Serkin

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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