Turkish Equity Movers: Borova, Torunlar Gayrimenkul Are Active

Turkey’s benchmark ISE National 100 Index (XU100) fell 108.68, or 0.2 percent, to 62,635.13 at the 5:30 p.m. close in Istanbul, extending this week’s losses to 1.6 percent.

The following stocks were active. Symbols are in parentheses.

Borova Yapi Endustrisi AS (BROVA) , a Turkish builder, surged 34 kurus, or 19 percent, to 2.14 liras, the most in almost six months. Borova signed an agreement with Saudi Arabia’s Safari Group to set up a joint company, according to a statement to the Istanbul Stock Exchange today.

Torunlar Gayrimenkul Yatirim Ortakligi AS (TRGYO TI), a Turkish real estate company, gained as much as 8 percent and rose 16 kurus, or 2.7 percent, to 6.18 liras at the close of trading. Germany’s ECE Projektmanagement G.m.b.H. & Co. KG offered $525 million for Yeni Gimat Isyerleri AS, a property company in which Torunlar has a 14.8 percent stake, Torunlar said in a filing with the exchange today.

To contact the reporter on this story: Ercan Ersoy in Istanbul eersoy@bloomberg.net.

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net.

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