Bloomberg News

Turkey Stocks: Albaraka, Emlak Konut, Park Elektrik, TAV Move

October 31, 2011

Oct. 31 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index fell 1.7 percent to 56,061.47 at the close in Istanbul, extending this month’s decline to 6.1 percent.

The following stocks were active.

Albaraka Turk Katilim Bankasi AS (ALBRK TI), an Islamic bank, fell 1.6 percent to 1.87 liras. Third-quarter profit rose to 39 million liras, the bank said in a statement to the exchange today, missing estimates.

Anadolu Sigorta AS (ANSGR TI), an insurer, dropped 3.4 percent to 85 kurus, the biggest loss in more than a month, after reporting a third-quarter loss of 6.21 million liras ($3.54 million).

Emlak Konut Gayrimenkul Yatirim Ortakligi AS (EKGYO TI), Turkey’s largest property developer, fell 3.2 percent to 2.39 liras. Its third-quarter loss widened to 9.93 million liras from 2.47 million liras a year earlier, the company said in a statement to the exchange after the market closed on Oct. 28.

Park Elektrik Uretim Madencilik Sanayi & Ticaret AS (PRKME TI), a miner and energy company, jumped 4.9 percent to 3.83 liras, a three-month high, after it said third-quarter profit surged to 40.3 million liras from 0.2 million liras a year earlier.

TAV Havalimanlari AS (TAVHL TI), an airport operator, added 1.9 percent to 8.56 liras, the highest in almost five months. The company signed a contract to build and operate the airport in Medina, Saudi Arabia at a cost of as much as $1.5 billion, according to a statement to the exchange yesterday. TAV, which hired Credit Suisse Group AG to pursue buyers for the company, might be sold for $2.8 billion, the Sunday Telegraph reported yesterday, without saying where it got the information.

--Editor: Alex Nicholson

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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