Turkey's Sisecam rise after beating Q2 estimates

Shares in Sisecam SISE.IS rise around 4% after Turkey-based company engaged in the production of glass and chemicals reported a better-than-expected Q2 net profit

The company posted Q2 net profit of 2.65 billion lira ($64.83 million)above market expectations

Brokerage Yatirim Finansman says Sisecam's net profit is way above market consensus of 0.4 billion lira

"Better than expected operating margins, driven by efficiency initiatives and some recovery in European pricing, led to stronger than expected quarterly results" Yatirim Finansman notes

"We expect market reaction to the results to be positive on the back of better than expected operational performance" Yatirim Finansman adds

The stock is among best performers in main BIST 100 index .XU100 which is up 0.22%

($1 = 40.8737 liras)