Turkey Equity Movers: Denizbank, Saray, Turk Telekom, Vakif GYO

Turkey’s benchmark ISE National 100 Index (XU100) fell 119.38, or 0.2 percent, to 61,953.26 at the 5:30 p.m. close in Istanbul.

The following stocks were active. Symbols are in parentheses.

Denizbank AS (DENIZ) , the Turkish bank owned Dexia SA, gained 25 kurus, or 2.4 percent, to 10.65 liras after it agreed to sell its life insurance unit to MetLife Inc. for 161.9 million euros ($229 million).

Ford Otomotiv Sanayi AS (FROTO) , Ford Motor Co.’s Turkish unit in partnership with Koc Holding AS (KCHOL), gained 10 kurus, or 0.8 percent, to 13.35 liras. Ford Oto will invest $75 million in research and development to make new Cargo trucks, Hurriyet reported, citing Ford Otosan chief executive Nuri Otay.

Saray Matbaacilik Kagitcilik Kirtasiyecilik Ticaret & Sanayi AS (SAMAT TI), a paper importer, printer and maker of stationery, surged 39 kurus, or 10 percent, to 4.26 liras. The company announced today that it won state auctions worth 6.6 million liras ($4 million) to print books.

Turk Telekomunikasyon AS (TTKOM) , Turkey’s biggest landline operator, gained 18 kurus, or 2.2 percent, to 8.26 liras, a record high, after it was rated “overweight” in new coverage at Barclays Capital with a price estimate of 9.5 liras per share.

Vakif Gayrimenkul Yatirim Ortakligi AS (VKGYO) , a real estate investment trust, added 10 kurus, or 3.6 percent, to 2.90 liras. The company bought land in Istanbul for a deal in which it will build a new headquarters for parent Turkiye Vakiflar Bankasi AS (VAKBN TI).

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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