Turkish Stocks: Bank Asya, TAV, Turkcell, Yapi & Kredi Bankasi

Turkey’s benchmark ISE National 100 Index (XU100) fell 2 percent to 59,666.62 at the close in Istanbul, its biggest loss in almost seven weeks, after Morgan Stanley said Turkish equities are “ripe for reversal.”

The following stocks were active. Stock symbols are in parentheses.

Asya Katilim Bankasi AS (ASYAB) , an Islamic bank, declined 4.2 percent to 1.83 liras, its biggest loss this year, after reporting a 27 percent plunge in fourth-quarter profit, missing estimates.

TAV Havalimanlari AS (TAVHL) , Turkey’s biggest airport operator, gained 1.6 percent to 8.80 liras. Aeroports de Paris, the owner of Paris’s Charles de Gaulle airport, is competing with French builder Vinci SA (DG) for a stake in the company, two people with direct knowledge of the sales process said.

Turkcell Iletisim Hizmetleri AS (TCELL) , Turkey’s largest mobile-phone company, slipped 3.1 percent to 9.40 liras, its biggest retreat since November. The company hasn’t decided on a management proposal to convene a new extraordinary shareholders’ meeting relating to its delayed 2010 dividend payout, Chief Executive Officer Sureyya Ciliv said.

Yapi & Kredi Bankasi AS (YKBNK) , the bank part-owned by UniCredit SpA (UCG), plunged 5.7 percent to 3.30 liras, its biggest decline since Dec. 8. The company reported fourth-quarter profit of 474.6 million liras ($269 million), lagging estimates, and said it has agreed to pay 8.3 percent above the benchmark three- month London interbank offered rate on its $585 million securitized loan from UniCredit.

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.