Turkish Equity Movers: Fenerbahce, Koza Altin, Garanti Move

Turkey’s benchmark ISE National 100 Index (XU100) fell 610.16, or 1 percent, to 62,024.97 at the 5:30 p.m. close in Istanbul.

The following stocks were active. Symbols are in parentheses.

Fenerbahce Sportif Hizmetler Sanayi & Ticaret AS (FENER TI), the merchandising arm of Fenerbahce soccer club, whose chairman Aziz Yildrim has been arrested in a match-fixing probe, plunged as much as 13 percent before closing down 1.25 liras, or 2.3 percent, to 52.5 liras. Officials from the European soccer body UEFA and the Turkish Football Federation met today in Geneva to discuss the match-fixing allegations, Haberturk reported.

Koza Altin Isletmeleri AS (KOZAL) , a gold miner, rose 50 kurus, or 2.1 percent, to 24.1 liras, its highest since May 2. Gold surpassed $1,600 an ounce for the first time today, trading at $1,602.45 as of 5:45 p.m. in Istanbul.

Turkiye Garanti Bankasi AS (GARAN) , Turkey’s largest publicly traded bank by market value, dropped 8 kurus, or 1.1 percent, to 7.22 liras. Turkish bank valuations remain “unattractive” and revenue probably won’t improve until next year, Goldman Sachs Group Inc. said in a research note.

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.