Turkish Equity Movers: Fenerbahce, Koza Altin, Garanti Move
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.
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