Turkish Equity Movers: Enka, Garanti, Is Leasing, Metem, Tofas
The following stocks were active. Symbols are in parentheses.
Enka Insaat & Sanayi AS (ENKAI TI), Turkey’s biggest builder, declined 9 kurus, or 1.8 percent, to 4.88 liras, the lowest since March 18. Enka had its price estimate cut to 5.34 liras from 6.23 liras at Credit Suisse Group AG, according to an e-mailed report today.
Is Finansal Kiralama AS (ISFIN) , a leasing company, dropped 1 kurus, or 0.7 percent, to 1.45 liras, after slumping as much as 3.4 percent. Turkey’s central bank may limit lending abilities of leasing, factoring and consumer finance companies by requiring them to set aside reserves for their external borrowing, Sabah newspaper reported.
Vakif Finansal Kiralama (VAKFN) AS lost 9 kurus, or 1.9 percent, to 4.78 liras, its lowest since March 22. Tekstil Finansal Kiralama AS (TEKFK) fell 2 kurus, or 1.5 percent, to 1.36 liras, its lowest in more than seven months.
Metem Enerji & Tekstil Sanayi Ticaret AS (MTEKS TI), a Turkish energy and textile company owned by Isiklar Holding AS, gained 4 kurus, or 2.1 percent, to 1.92 liras. Metem will set up a unit named Isiklar Enerji Elektrik Enerjisi Ithalat Ihracat & Toptan Ticaret AS for wholesale electricity trade, it said in an e-mailed statement today.
Tofas Turk Otomobil Fabrikasi AS (TOASO) , a carmaker, rose 20 kurus, or 2.8 percent, to 7.38 liras after Industry Minister Nihat Ergun said there are no plans for additional taxes on the automotive industry, according to Bloomberg HT television.
Ford Otomotiv Sanayi AS (FROTO) , Ford Motor Co.’s Turkish unit, rose 10 kurus, or 0.8 percent, to 12.90 liras.
Turkiye Garanti Bankasi AS (GARAN) , Turkey’s largest lender by market value, led gains on the index after the central bank kept reserve requirements unchanged. The lender jumped 22 kurus, or 3.1 percent, to 7.26 liras, the biggest daily gain since May 31.
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