Bloomberg News

Turkey Stocks Movers: Petkim Petrokimya, Turcas Petrol

December 28, 2011

Dec. 28 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index fell 1.9 percent to 51,553.20 at the 5:30 p.m. close in Istanbul, declining the most in two weeks.

The following stocks were active on the Turkish stock market today. Stock symbols are in parentheses.

Turcas Petrol AS (TRCAS TI), a Turkish fuel retailer, jumped 2.4 percent to 2.15 liras, in the biggest advance since Dec. 2. Turcas agreed to sell its 25 percent stake in Socar & Turcas Enerji AS to the State Oil Co. of Azerbaijan, known as Socar, for $44 million, Petkim Petrokimya Holding AS, Turkey’s biggest chemicals maker controlled by Socar & Turcas Enerji, said. Turcas also signed an accord to buy 18.5 percent of Socar & Turcas Rafineri AS from Socar & Turcas Enerji for 9.25 million liras, Petkim said in a statement to the bourse today. Turcas aims to focus on refining and fuel retailing, the company said Dec. 19.

Petkim (PETKM TI) fell 0.5 percent to 1.99 liras.

--Editors: James Kraus, Mark Bentley

To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


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