Turkey Stocks: Fenerbahce, Finansbank, Is Finansal Kiralama Move
Turkey’s benchmark ISE National 100 Index (XU100) climbed 0.8 percent to 55,195.81 at the 5:30 p.m. close in Istanbul, gaining for a second day and reaching its highest level in more than two weeks.
The following stocks were active on the Turkish stock market today. Stock symbols are in parentheses.
Fenerbahce Sportif Hizmetler Sanayi ve Ticaret AS (FENER) , owner of license rights to the Fenerbahce sports team brand, slid 3.9 percent to 41.40 liras after Turkish President Abdullah Gul overturned a law reducing prison terms for match- fixing charges to between one and three years from as much as 12 years, according to the presidential website.
Finansbank AS (FINBN TI), the Turkish unit of National Bank of Greece SA, added 5.8 percent to 4.39 liras after website China Knowledge said HSBC Holdings Plc is “seriously interested” in buying the bank. National Bank of Greece may sell a 20 percent stake in Finansbank next year, China Knowledge said, citing a person familiar with the situation.
Is Finansal Kiralama AS (ISFIN), a Turkish leasing company, surged 4.6 percent to 1.13 liras after Zaman newspaper reported the government will reduce the tax on leasing machinery and materials used in production to 1 percent from 18 percent, citing draft legislation.
To contact the reporter on this story: Selcuk Gokoluk in Istanbul at email@example.com
To contact the editor responsible for this story: Gavin Serkin at firstname.lastname@example.org