STOCKS NEWS EUROPE-Global of Turkey jumps on port hopes

Shares in Global Yatirim <GLYHO.IS>, a Turkish company with interests in energy, finance and transportation, rise 6.15 percent after issuing a statement regarding a lawsuit to cancel its winning bid to operate a marine port.

Although Global only repeated an earlier statement that the lawsuit to cancel the $1.28 billion tender it won with Hong Kong's Hutchison <0013.HK> in 2008 for the Izmir port is continuing, investors may now expect a development in the case and are upbeat about the company's prospects, traders say.

Global on June 24 sold its hydroelectric company Yesil Enerji for 98 million euros to Norway's Statkraft.

"The sale of Yesil Enerji has meant cash for Global, and we expect it to be profitable," says Ezgi Ozturk, an analyst at Oyak Securities, who has a "buy" recommendation on the stock. "Investors may have seen the statement on the port, which wasn't new, as a chance to buy."

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