Turkey Stocks: Anadolu Hayat, Bizim Toptan, Vakiflar Bankasi

Turkey’s benchmark ISE National 100 Index (XU100) retreated for a fourth day, dropping 0.6 percent to 61,417.44 at the close in Istanbul and increasing the weekly decline to 1.5 percent.

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

Anadolu Hayat Emeklilik AS (ANHYT) , Turkey’s largest pension provider, added 1.8 percent to 4.04 liras, the highest level since July. Turkey may double tax incentives to increase corporate contributions to employee pension funds, Milliyet newspaper reported.

Bizim Toptan Satis Magazalari AS (BIZIM) (BIZIM TI), Turkey’s largest discount grocery chain and part-owner of grocery chain Sok Marketler Ticaret AS, added 2 percent to 22.75 liras. Sok will increase sales to 1.5 billion liras ($833 million) from 1.1 billion liras in 2011 and will open 250 new shops to bring its total to 1,400, the company said in a press release today.

Turkiye Vakiflar Bankasi TAO (VAKBN) , a state-run bank, fell 2.1 percent to 3.29 liras, leading losses among lenders, after Turkey’s central bank tightened liquidity by withholding funding at the lower end of its interest rate corridor for a second day.

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.