Bloomberg News

Turkey Stocks: Gubre, Kron Telekom, TAV, Yapi Kred Are Active

November 17, 2011

Nov. 17 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index fell the most in two weeks, dropping 1.5 percent to 55,089.82 at the close in Istanbul. Of 100 securities on the index 78 fell, 12 gained and 10 were unchanged. The banking index declined 2.6 percent.

The following stocks were active. Stock symbols are in parentheses.

Gubre Fabrikalari TAS (GUBRF TI), a fertilizer producer, gained as much as 2.3 percent before closing up 0.8 percent at 13.30 liras. The company will increase its annual NPK production capacity to 500,000 tons from 200,000 tons and build an ammonium storage tank with a capacity of 20,000 tons, it said in a statement to the exchange today.

Kron Telekomunikasyon Hizmetleri AS (KRONT TI), a telecommunications solutions company, rose 5.2 percent to 3.83 liras, after saying it was setting up a unit in Pakistan.

TAV Havalimanlari AS (TAVHL TI), Turkey’s largest airport operator, added 0.8 percent to 8.08 liras. TAV was still in active bidding for the rights to operate the airport in the western Turkish city of Izmir at the market close.

Yapi & Kredi Bankasi AS (YKBNK TI), the bank part-owned by Italy’s UniCredit SpA, plunged 4.8 percent to 3.16 liras, dropping for a third day, to its lowest since Aug. 18. The company was removed from Morgan Stanley Research’s ‘Best Ideas’ list for eastern Europe, the Middle East and Africa.

--Editors: Peter Branton, Ash Kumar

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

To contact the editor responsible for this story:


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