Bloomberg News

Turkish Stocks: Arcelik, Banvit, Nuh Cimento, Yapi Kredi Move

January 04, 2012

Jan. 4 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index fell 2.5 percent to 51,532.56 at the close in Istanbul, the steepest decline in three weeks. Of 100 shares in the index, 92 fell, five rose and three were unchanged.

The following were among the active equities on the Turkish market today. Stock symbols are in parentheses.

Arcelik AS (ARCLK TI), Turkey’s largest producer of household appliances, jumped 4.5 percent to 6.52 liras, the steepest increase since November. The company was rated “buy” at UniCredit SpA and UBS AG and favored over another Turkish electronics producer, Vestel, at Erste Group Bank AG, according to reports issued today.

Banvit Bandirma Vitaminli Yem Sanayii AS (BANVT TI), a poultry producer, surged 6.5 percent to 2.96 liras, leading gains on the ISE100, after Saudi Arabia lifted its ban on Turkish poultry imports, according to a report in Zaman newspaper.

Seker Pilic & Yem Sanayii Ticaret AS (SKPLC TI), another poultry company that’s not among Turkey’s top 100 stocks, rallied 6.7 percent to 1.43 liras, the biggest gain since October.

Nuh Cimento Sanayi AS (NUHCM TI), Turkey’s largest cement producer, advanced the most in a month, adding 3.9 percent to 10.70 liras. Parent company Nuh Sirketler Grubu grew 20 percent in 2011 after its best December ever, and plans to increase its clinker production capacity by 50 percent, according to an interview with Chairman Atalay Sahinoglu in Dunya newspaper.

Yapi & Kredi Bankasi AS (YKBNK TI), the lender part-owned by UniCredit SpA, slipped 5.2 percent to 2.74 liras, leading declines among banks as Turkey’s banking index retreated 3.3 percent after a 4 percent gain yesterday. UniCredit plunged to the lowest since March 2009 in Italian trading after setting a 43 percent discount for its rights offer.

--Editors: Ash Kumar, Stephen Kirkland

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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