Turkish Stocks: Fenerbahce, Turkcell Shares Move in Istanbul

Turkey’s benchmark ISE National 100 Index (XU100) rose less than 0.1 percent to 60,451.41 at the close in Istanbul, gaining for a fourth day. The measure is up 9.7 percent this month, having advanced in 15 of the past 16 days.

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

Fenerbahce Sportif Hizmetler Sanayi & Ticaret AS (FENER) , the listed arm of Istanbul soccer club Fenerbahce, soared 12 percent to 49.20 liras after the team was cleared for play in Europe’s Champions League Tournament. The clearance is “for the time being” and pending a final decision, Fenerbahce said in a statement to the exchange today, citing a letter from UEFA’s Control & Disciplinary Body.

Turkcell Iletisim Hizmetleri AS (TCELL) , Turkey’s largest mobile phone company, advanced for a third day to the highest in more than a month, gaining 3.1 percent to 8.68 liras, after Moody’s Investors Service put the company on review for an upgrade. Shareholder MV Holding AS said it had raised its stake in Turkcell to 2.56 percent, up from 1.18 percent in a first- quarter filing on May 2.

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

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