Bloomberg News

Turkey Stocks: Aselsan, Soktas Tekstil, Turkiye Garanti Bankasi

November 24, 2011

Nov. 24 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index rose 0.4 percent to 51,299.04 at 12:20 p.m. in Istanbul, breaking a five-day slump.

The following stocks were active.

Aselsan Elektronik Sanayi & Ticaret AS (ASELS TI), a defense contractor, gained 1.7 percent to 7.34 liras. The company was initiated at “outperform” at Credit Suisse AG.

Soktas Tekstil Sanayi & Ticaret AS (SKTAS TI), a company with interests in textiles, food and agriculture, surged 10 percent to 7.04 liras after saying it hired Turkiye Sinai Kalkinma Bankasi AS, or TSKB, to advise on an initial public offering of its farm unit, Efeler Ciftligi Tarim & Hayvancilik AS.

Turkiye Garanti Bankasi AS (GARAN TI), Turkey’s largest listed bank by market value, led gains on the index, adding 0.7 percent to 5.90 liras as the country’s banking index gained for the first day in nine, snapping its longest losing streak since 2008.

--Editors: Linda Shen, Ana Monteiro

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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