Bloomberg News

Turkish Stocks: Akbank, Sabanci Holding, Usas Ucak Were Active

February 09, 2012

Feb. 9 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index fell the most in more than a month, sliding 1.7 percent to 60,162.52 at the close in Istanbul.

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

Akbank TAS (AKBNK TI), the bank owned by Citigroup Inc. and Haci Omer Sabanci Holding AS, slumped 3.6 percent to 7.04 liras ahead of its earnings report tomorrow. Akbank may report fourth- quarter profit fell an annual 9.6 percent to 624 million liras ($355 million), according to the average of ten analysts surveyed by Bloomberg.

Haci Omer Sabanci Holding AS (SAHOL TI), Turkey’s second- largest group of companies, added as much as 2.2 percent in intraday trading before closing up 0.6 percent at 7.20 liras. Sabanci plans an initial public offering in its electronics retail unit Teknosa Ic & Dis Ticaret AS, in May or June, Teknosa chief executive Mehmet Nane said in an interview in Istanbul today.

Usas Ucak Servisi AS (UCAK TI), a catering services provider for airlines, surged the most in almost 11 years, adding 18 percent to 3.77 liras, its highest since 2007, after saying owner Turkraft Holding AS raised its stake to 84 percent from 56.3 percent.

--Editors: Ash Kumar, Peter Branton

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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