Turk assets rise, Garanti outperforms after earnings

ISTANBUL, Nov 10 (Reuters) - Turkish assets gained on Tuesday as top traded bank Garanti outperformed the main index, boosted by its third-quarter results. Shares in media mogul Aydin Dogan-owned Dogan Gazetecilik outpaced the index after a newspaper report, denied by the company, that Dogan was planning to sell five newspapers. Dogan media arm Dogan Yayin is facing a record tax fine of 4.8 billion lira, which it says is motivated by its critical coverage of the government. The government denies the case has political dimensions. Turkish assets rose broadly on Tuesday in line with gains by global bourses on signals that stimulus plans will continue following a G-20 finance ministers' pledge to keep them in place for the moment. The blue chip Istanbul index was up 0.95 percent at 48,229 at 0859 GMT. Shares in Garanti Bank were up 1.75 percent at 5.80 lira following third quarter earnings that showed net profit of 666.7 million lira for the July-September period. "Net interest income remained stable quarter on quarter, being a major factor contributing to the total revenue base. Also higher other non-interest income (past year NPL collections), flat LLPs and incrementally lower operating costs all helped the third quarter 2009 bottom line," said Is Invest in a note. The lira was trading 1.4710 against the dollar on the interbank market, firming from the previous day's close of 1.4730. The yield on the Aug. 3, 2011 benchmark bond eased to 8.62 percent from the previous day's close of 8.65 percent. Turkish builder Enka Insaat's was up 3.4 percent ahead of its third-quarter figures. According to a Reuters poll, its third quarter net profit was seen up 61 percent year-on-year at 161 million lira. Turkey is due to release its current account data for September on Tuesday, which posted a surplus last month of $127 million. (Reporting by Thomas Grove; Editing by Victoria Main) Keywords: MARKETS TURKEY/ ([e-mail]; Telephone: [phone]; Reuters Messaging: [e-mail]) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.