Bloomberg News

Turkey Stocks Movers: Park Elektrik, Turcas Petrol

December 30, 2011

Dec. 30 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index fell 1.5 percent to 51,266.62 at the 5:30 p.m. close in Istanbul, extending this year’s losses to 22 percent. The index declined 1.3 percent this week.

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

Park Elektrik Uretim Madencilik Sanayi & Ticaret AS (PRKME TI), an energy and mining company owned by Turkey’s Ciner Group, fell 0.6 percent to 3.47 liras. Its parent Park Holding AS requested extra time to make a payment for a power grid on Istanbul’s European side, for which it offered $2.5 billion, a government official said by telephone today on the usual condition of anonymity because the process is private.

Turcas Petrol AS (TRCAS TI), a Turkish fuel retailer, advanced for a third day, gaining 0.5 percent to 2.22 liras, the highest level in more than two weeks. Turcas completed the sale of its 25 percent stake in Socar & Turcas Enerji AS to the State Oil Co. of Azerbaijan, known as Socar, for $44 million. Turcas also bought 18.5 percent of Socar & Turcas Rafineri AS from Socar & Turcas Enerji for 9.25 million liras, under its plan to focus on refining and fuel retailing, Turcas said in a filing with the bourse today.

--Editors: Tim Farrand, 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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