Bloomberg News

Turkish Stocks: Akbank, Klimasan, Tupras, Vakifbank Are Active

February 01, 2012

Feb. 1 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index surged, adding 3.6 percent to 59,215.65 at the close in Istanbul.

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

Akbank TAS (AKBNK TI), the bank part-owned by Citigroup Inc., surged 6 percent to 7.08 liras, leading gains on the banking index, which increased 4.6 percent to its highest since Oct. 19.

Klimasan Klima Sanayi & Ticaret AS (KLMSN TI), a maker of refrigerators, jumped the most in five weeks, adding 4.1 percent to 2.53 liras after saying its domestic sales rose 47 percent in 2011 from a year earlier.

Tupras Turkiye Petrol Rafinerileri AS (TUPRS TI), Turkey’s sole refiner, added 4.2 percent to 42.20 liras, its highest since July 15. Investors betting on economic recovery should buy oil, gas and chemicals companies in Turkey and Tupras is attractive because of its strong refining margin and high dividend yield, HSBC Holdings Plc said in an e-mailed report today.

Turkiye Vakiflar Bankasi TAO (VAKBN TI), a state-run lender, gained 5.9 percent to 3.06 liras, its highest in 11 weeks. Vakifbank is “one of the most attractive large-cap Turkish banks in terms of multiples” after underperforming the index late last year, Ates Bultur, an analyst at Credit Suisse Group AG, said in an e-mail.

--Editors: Ash Kumar, 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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