Bloomberg News

Turkey Stocks: Dogus, Tofas Active in Istanbul Trading

May 11, 2012

Turkey’s benchmark ISE National 100 Index (XU100) rose less than 0.1 percent to 58,872.62 at 5:30 p.m. in Istanbul, reducing losses for the week to 0.2 percent.

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

Dogus Otomotiv Servis & Ticaret AS (DOAS) , the distributor of motor vehicles for Volkswagen AG (VOW) in Turkey, climbed 4.6 percent to 4.76 liras, the highest in a month. First-quarter net income quadrupled to 72.4 million liras ($40 million) from 17.1 million liras a year earlier, Dogus reported in a filing with the Istanbul Stock Exchange after markets closed yesterday. It was expected to earn 39.3 million liras, according to the average of four analyst estimates compiled by Bloomberg.

Tofas Turk Otomobil Fabrikasi AS (TOASO) , the producer and exporter of cars and vans for Fiat SpA, dropped 1.6 percent to 7.36 liras. Output of motor vehicles in Turkey slid 15 percent annually in April, the Automotive Manufacturers’ Association in Istanbul said on its website today. Exports fell an annual 12 percent in the month, it said.

Turkiye Vakiflar Bankasi TAO (VAKBN) , a state-run bank, increased 3.2 percent to 3.20 liras in the biggest gain in a month after its profit in the first quarter rose 2.6 percent, beating analysts’ forecasts. Net income advanced to 419.8 million liras from 409.2 million liras a year ago, Vakifbank said in a filing to the exchange today. It was expected to earn 314.1 million liras, according to the average of 17 analyst estimates compiled by Bloomberg.

To contact the reporter on this story: Mark Bentley in Istanbul at mbentley3@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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