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Sisecam Gains as Glassmaker Boosted by Weak Lira: Istanbul Mover

Post Time:Jul 15,2013Classify:Industry NewsView:74

Turkiye Sise ve Cam Fabrikalari AS headed for the highest close in three weeks on bets this year’s depreciation in the lira is helping boost the value of the Turkish glassmaker’s foreign-currency holdings.  

The shares of Sisecam, as the company is known, rose 0.8 percent to 2.69 liras, set for the highest close since June 19, at 3:39 p.m. in Istanbul, after earlier jumping 4.9 percent. The stock has climbed 5.9 percent in the past two days and was the fifth-biggest gainer today on the Borsa Istanbul National 100 (XU100) index, which dropped 1.1 percent to 71,167.15.

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Source: http://www.glassonweb.com/news/index/19617/Author:

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