Bloomberg News

Turkish Stocks: Anadolu Hayat, Tofas Turk, Tekfen Are Active

January 16, 2012

Jan. 16 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index rose 2.4 percent to 52,797.16 at 5:30 p.m. in Istanbul.

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

Anadolu Hayat Emeklilik AS (ANHYT TI), Turkey’s biggest life insurer, jumped 6.3 percent to 3.02 liras. The company reported full-year premiums of 348.4 million liras ($188 million) for 2011 in a statement to the exchange today.

TAV Havalimanlari Holding AS (TAVHL TI), an airport operator, declined 1.3 percent to 7.54 liras. The company’s ground-handling unit Havaalani Yer Hizmetleri AS, known as Havas, suspended its passenger bus services to and from Istanbul airports and the city center after a decision against it by the municipality.

Tekfen Holding AS (TKFEN TI), a builder that owns lender Eurobank Tekfen in partnership with Greece’s EFG Eurobank Ergasias AS, rose 2.4 percent to 5.22 liras. The sale process for Eurobank Tekfen continues, Chairman Mehmet Erten said, after local website borsagundem.com reported there were no bidders.

Tofas Turk Otomobil Fabrikasi AS (TOASO TI), a joint venture between Fiat SpA and Koc Holding AS, gained for a fifth day, advancing 6.3 percent to 7.14 liras. Fiat and Koc will make an initial investment of 500 million euros ($633 million) to develop a Turkish car at Tofas’ plant, Hurriyet newspaper reported, citing Sergio Marchionne, chief executive officer of Fiat SpA and Chrysler Group LLC.

--Editors: Peter Branton, Mark Bentley

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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