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Turkish Markets while you were asleep (09/09/2011)

|Includes: TKC, TKF, iShares MSCI Turkey ETF (TUR)

The national index printed a slight loss of 0.24% in the first session. Two notable movers were Petrol Ofisi (up 9.3% - no big news apart from strong LPG sales nationwide) and Turkcell (NYSE:TKC), which continues its positive momentum.


Industrial production up +6.9 in July yoy vs expectations of 4.6%. This shows an acceleration vs 6.8% last month. The fastest growing component was once again capital goods, (up 34.6%) , while nondurables printed a 1.8% decline.


Turkish Airlines (OTCPK:TKHVY), is expecting delivery of 10 Boeing 737-900 planes and expects to increase flights to Africa (this comes amidst losses of 221mn of losses in Q2). The stock was up nearly 2% in the first session