Bloomberg News

Turkish Stocks: Alcatel Teletas, Adana Cimento, Atac, Isbank

March 02, 2012

Turkey’s benchmark ISE National 100 Index (XU100) climbed 0.3 percent to 60,902.41 at the close in Istanbul, bringing its gain for the week to 2 percent. Trade on the exchange was halted throughout the morning session due to a technical malfunction and began at 2:20 p.m.

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

Adana Cimento Sanayii TAS (ADANA) , a cement maker, fell 1.3 percent to 79 kurus after saying it would pay a dividend of 0.04 lira per C-class share. The A-class shares, on which it will pay a dividend of 0.39 lira per share, rose 2.1 percent to 3.81 liras.

Alcatel Lucent Teletas Telekomunikasyon AS (ALCTL) , the Turkish unit of Alcatel-Lucent (ALU), added 1.6 percent to 3.23 liras, its highest since Dec. 20. The company expects to sign a contract for a 30 million-euro ($40 million) project with Turk Telekomunikasyon AS (TTKOM), it said in a statement to the exchange today.

Atac Insaat & Sanayi AS (ATAC) (ATAC TI), a builder, jumped 1.7 percent to 6.12 liras, closing at an all-time high, after saying its unit Doruk Iletisim & Otomasyon Sanayi & Ticaret AS (MGROS) will start the process for an initial public offering.

Turkiye Is Bankasi (ISATR) AS, Turkey’s biggest bank by assets, fell 0.2 percent to 4.16 liras, trailing a 0.6 percent increase on the overall bank index. The bank was cut to “sell” from “neutral” at UBS AG.

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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