Bloomberg News

Turkey Stocks: Garanti, Ran Lojistik, TAV Shares Are Active

November 25, 2011

Nov. 25 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index rose for the first day in seven, gaining 2.9 percent to close at 51,071.22 in Istanbul.

The banking index gained 2.3 percent, snapping its longest losing streak in a decade.

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

Ran Lojistik Hizmetleri AS (RANLO TI), a freight transporter and logistics company, added 3.3 percent to 95 kurus after saying it won a one-year contract from Amcor Tobacco at Izmir in western Turkey.

TAV Havalimanlari Holding AS (TAVHL TI), Turkey’s biggest airport operator, gained 4 percent to 7.76 liras. The company will borrow 300 million euros ($398 million) to finance its Izmir airport expansion project and aims to complete the financing in three months, Chief Executive Officer Sani Sener said in an interview in Istanbul today.

Turkiye Garanti Bankasi AS (GARAN TI), Turkey’s largest listed bank by market value, gained 2.4 percent to 5.92 liras. Turkish banks may be “oversold” after a nine-day drop and needed some “trigger” to reverse selling pressure, according to Emir Tayman, a trader at Ekspres Invest in Istanbul.

--Editors: Kristen Hallam, Linda Shen

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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