Bloomberg News

Turkish Stocks: Akbank, Eczacibasi, Turkish Airlines Are Active

January 23, 2012

Jan. 23 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index rose for a sixth day, adding 0.5 percent to 55,186.21 at the close in Istanbul. The index has increased 7 percent over the past six days.

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

Akbank TAS (AKBNK TI), the lender owned by Citigroup Inc. and Haci Omer Sabanci Holding AS, fell 1.5 percent to 6.64 liras while the Turkish banking index increased 0.3 percent. Akbank was cut to “sell” from “neutral” and is the “least- preferred” among Turkish banks because of its share price premium versus peers, UBS said today.

EIS Eczacibasi Ilan & Sinai & Finansal Yatirimlar Sanayi & Ticaret AS (ECILC TI), a drugmaker, gained 1.1 percent to 1.78 liras. The company entered into an agreement with Germany’s MediGene AG to supply its Veregen ointment for genital warts, according to a statement from MediGene today.

Turk Hava Yollari AO (THYAO TI), or Turkish Airlines, jumped 3.7 percent to 2.27 liras. The company is a potential buyer of Poland’s state airline Polskie Linie Lotnicze LOT SA, Poland’s Treasury Ministry spokeswoman Madalena Kobos said today.

--Editor: Tim Farrand

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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