STOCKS NEWS EMERGING EUROPE-Global of Turkey up on port hopes

                                
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 1243 02July2009 Global of Turkey jumps 8 pct on port hopes
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 Global Yatirim <GLYHO.IS>, a Turkish company with interests in energy,
finance and transportation, rises 6.2 percent to 0.69 lira after issuing a
statement on 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 continued, 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."
                                
 Reuters Messaging rm://ayla.yackley.reuters.com@reuters.net
                                
 
                                
 
                                
 1219 02July2009 - Russian steels soar on upgrades
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 Russian steelmakers rise as Morgan Stanley and Credit Suisse upgrade Russian
steels, and steelmaker NLMK <NLMK.MM> leads trade in Russia's more liquid shares
with a 6.4 percent gain, followed by coking coal miner Raspadskaya <RASP.MM>, up
4.1 percent.
                                
 "A lot of brokers have changed their recommendations on miners, NLMK for
one," says Alfa-Bank trader Dmitry Solovyov.
                                
 Credit Suisse, which raised NLMK to Neutral from Underperform, said it had
started factoring an upswing into its steel targets, with MMK <MAGN.MM>, up 1.6
percent, its top pick.
                                
 "If, as we believe, the EEMEA steel industry is already bottoming out,
trough valuations are no longer relevant, in our view," Credit Suisse said in a
research note. 
  (zlata.garasyuta.reuters.com@reuters.net; +7 495 775 1242)