Bloomberg News

Turkish Stocks: Halkbank, Turkish Airlines, Yapi Kredi Move

June 11, 2012

Turkey’s benchmark ISE National 100 Index (XU100) rose 1.6 percent to 58,234.21 at the midday break in Istanbul, gaining for a seventh day to the highest in a month.

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

Turk Hava Yollari (THYAO) AO, Turkey’s national airline, added 1.5 percent to 2.77 liras. The airline urgently need bigger aircrafts to keep up with surging traffic, Chief Executive Officer Temel Kotil said in an interview in Beijing yesterday. The airline’s passenger traffic has jumped 28 percent this year, more than triple the global growth rate, as it builds a network connecting travelers in Asia, Europe and Africa. The airline also expects to boost profit this year even as the European debt crisis slows global economic growth, Kotil said.

Turkiye Halk Bankasi AS (HALKB) , a state-run lender, added 2.3 percent to 13.15 liras, on course for its strongest close since April 4. Credit Suisse Group AG said Turkish banks looked attractive from a fundamental and valuation standpoint and Halkbank was its top pick, according to the lender’s e- mailed report received today.

Yapi & Kredi Bankasi AS (YKBNK) , the lender part-owned by Italy’s UniCredit SpA (UCG), also gained as Turkey’s banking index headed for its longest streak of consecutive daily gains since 2009. The shares added 2.5 percent to 3.30 liras, poised for its highest level since April 27.

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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