Turkey Stocks: Adel, Deniz Yatirim, Finansbank, Dogus Otomotiv
The following stocks were active.
Adel Kalemcilik Ticaret & Sanayi AS (ADEL TI), a maker of office supplies, gained 2.1 percent to 28.6l liras after saying it started feasibility studies to build a new factory in Kocaeli in northwestern Turkey.
Deniz Yatirim Menkul Degerler AS (DNZYO TI), an investment trust, dropped 7.1 percent to 2.08 liras after broker Deniz Yatirim Menkul Degerler AS said it had sold 1 million shares in the company.
Dogus Otomotiv Servis & Ticaret AS (DOAS TI), the distributor of Volkswagen, Audi and Porsche cars in Turkey, dropped 2 percent to 3.90 liras. An increase in the government special consumption tax to as much as 130 percent for vehicles with engines larger than 1.6 liters will raise the cost of luxury vehicles as much as 25 percent and hurt distributors with significant vehicle inventories, Hurriyet newspaper reported. The shares have fallen 8.7 percent this week.
Finansbank AS (FINBN TI), the bank owned by National Bank of Greece, fell for the first day in five, losing 0.4 percent to 5.18 liras.
Shares in Finansbank and Denizbank AS (DENIZ) , owned by Belgium’s Dexia SA (DEXB), have surged as investors bet European owners would sell the Turkish banks to help raise capital. Finansbank has gained 57 percent in the week, while Denizbank gained 83 percent.
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