Turkey’s benchmark ISE National 100 Index gained 1,581.05, or 2.5 percent, to 63,309.00 at 5:30 p.m. in Istanbul when trading ended. It was the biggest increase since Dec. 13 and brought gains for the week to 3.3 percent.
The following stocks were active. Symbols are in parentheses.
Gozde Finansal Hizmetler AS (GOZFN TI), a financial services company owned by Turkey’s Yildiz Holding AS, surged 8.7 percent, adding 31 kurus to 3.88 liras. The company is partnering with KKR & Co. LP to bid for assets of the country’s biggest media group, Dogan Yayin Holding AS (DYHOL TI), it said in a statement to the stock exchange. Dogan Yayin shares rose 8 kurus, or 4 percent, to 2.06 liras.
Nurol Gayrimenkul Yatirim Ortakligi AS (NUGYO TI), a real estate investment trust, climbed 12 kurus, or 2.9 percent, to 4.28 liras. The company won a contract worth 111.8 million liras ($70 million) from the government’s housing agency Toki to develop a project in Istanbul’s Mecidiyekoy district, it said in a statement to the bourse after the market closed yesterday.
Turkiye Garanti Bankasi AS (GARAN TI), the biggest provider of consumer lending, added 42 kurus, or 5.9 percent, to 7.58 liras, the biggest gain since May 10 last year. Turkish shares are undervalued compared with emerging market averages, Bali Ekin, head of trading at Credit Europe Bank NV in Amsterdam, said in an e-mailed response to Bloomberg questions.