Bloomberg News

Turkey Stocks: Coca-Cola Icecek, Goldas, THY, Vakifbank Move

November 02, 2011

Nov. 2 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index rose 1.6 percent to 55,721.42, gaining for the first day in three.

The following stocks were active.

Coca-Cola Icecek AS (CCOLA TI), the bottler of Coca-Cola drinks in Turkey, gained 4.4 percent to 24 liras before posting results just after the market close today. The company posted a third-quarter profit of 64.8 million liras ($36.5 million), less than the 81.1 million-lira average estimate of 10 analysts in a Bloomberg survey.

Goldas Kuyumculuk Sanayi Ithalat & Ticaret AS (GOLDS TI), a jewelry producer, gained 3.2 percent to 64 kurus, rising for the first day in seven. Goldas signed a license with Warner Brothers Consumer Products Inc. to design and make Lord of the Rings branded jewelry, following a similar agreement with Mattel Europa earlier this month to design and make Barbie branded jewelry.

Turk Hava Yollari AO (THYAO TI), or Turkish Airlines, fell 0.4 percent to 2.48 liras, a third day of losses. UBS AG cut its price target for the shares to 3.00 liras from 3.40 liras.

Turkiye Vakiflar Bankasi TAS (VAKBN TI), a state-run bank, surged 5.5 percent to 3.08 liras, its biggest increase since Sept. 20. Vakifbank reported third-quarter earnings of 316.1 million liras, 41 percent higher than last year and exceeding estimates.

--Editors: Tim Farrand, Stephen Kirkland

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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