Bloomberg News

Turkey Stocks: Asya Katilim, Otokar, Vestel Elektronik Move

May 14, 2012

Turkey’s benchmark ISE National 100 Index (XU100) fell 1.7 percent to 57,853.86 at the close in Istanbul, declining for the first time in three days.

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

Asya Katilim Bankasi AS (ASYAB) , an Islamic bank, slid 5.1 percent to 1.69 liras, its biggest loss since Nov. 21. The bank is waiting for “the right market conditions” to issue $300 million of sukuk bonds as “unfortunately things are not good abroad,” Chief Executive Abdullah Celik said in an interview today.

Otokar Otomotiv & Savunma Sanayi AS (OTKAR) , a producer of buses and military trucks, rose 1.4 percent to 30 liras after saying it received a contract for armored vehicles worth about 39.5 million liras ($21.9 million).

Vestel Elektronik Sanayi & Ticaret AS (VESTL) , a consumer electronics and home appliances manufacturer, gained 0.5 percent to 2.07 liras, trimming a gain of as much as 7.3 percent in the day, after saying in a filing for tax purposes only that its first-quarter profit was 90.7 million liras.

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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