Turkey Stocks: Aksa Enerji, Kardemir, Kordsa, Petkim Are Active

Turkey’s benchmark ISE National 100 Index (XU100) fell to its lowest since Sept. 6, dropping 3 percent to 54,368.61 at 4:19 p.m. in Istanbul. Of 100 shares on the index, 97 were down, and three up.

The following stocks were active.

Aksa Enerji Uretim AS (AKSEN TI), an energy company, fell for the first day in four, slumping 6.8 percent to 3.30 liras after group company Aksa Elektrik Perakende Satis AS didn’t post the money to secure the right to buy a power grid on the European side of Istanbul yesterday.

Kardemir Karabuk Demir Celik Sanayi & Ticaret AS (KRDMD TI), a steelmaker, gained 1.2 percent to 83 kurus. The company said third-quarter profit was 82.5 million liras ($45.9 million), compared with a 6.49 million lira loss a year earlier.

Kordsa Global Endustriyel Iplik & Kord Bezi Sanayi & Ticaret AS (KORDS TI), a producer of cord fabric used in tires, declined for a second day, losing 5.5 percent to 4.12 liras. The company suspended production at its plant in Thailand due to flooding there, it said in a statement to the exchange after the market closed yesterday.

Petkim Petrokimya Holding AS (PETKM) , Turkey’s biggest petrochemicals company, fell for the first time in four days, retreating 7 percent to 2.25 liras. The company reported third- quarter profit of 34.7 million liras ($19 million) after the close yesterday, missing the 62.6 million-lira average estimate by six analysts compiled by Bloomberg.

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