Turkey’s benchmark ISE National 100 Index gained for the fifth day, adding 178.9, or 0.3 percent, to 68,870.67 at the 5:30 p.m. close in Istanbul.
The following stocks were active. Symbols are in parentheses.
Aygaz AS (AYGAZ TI), a distributor of liquefied petroleum gas, rose to a record, adding 25 kurus, or 2.5 percent, to 10.4 liras. The company is interested in Istanbul’s auction to sell its gas grid Igdas, Haberturk reported, citing Aygaz Chief Executive Officer Yagiz Eyuboglu. Aygaz may also bid for state pipeline company Botas’s import contracts, according to the Istanbul-based newspaper.
Dogan Gazetecilik AS (DGZTE TI), a newspaper publisher owned by Turkey’s largest media group, snapped three days of losses, gaining 6 kurus, or 1.9 percent, to 3.3 liras. The tax debt of Turkish businessman Aydin Dogan’s media companies may be reduced to between 300 million liras ($197 million) and 400 million liras under a government restructuring plan, Star newspaper reported, citing unidentified Finance Ministry officials. Dogan is seeking buyers for the assets after the government demanded $3.8 billion in back taxes and fines.
Is Gayrimenkul Ortakligi AS (ISGYO TI), a property developer, rose 3 kurus, or 1.6 percent, to 1.88 liras, the highest close since Feb. 18. The company agreed with Kayi Holding AS to establish a joint venture in the Netherlands for hotel and other commercial building investments in Russia, according to a statement to the Istanbul Stock Exchange after the market closed on April 22.
Turkcell Iletisim Hizmetleri AS (TCELL TI), Turkey’s largest mobile phone company by subscribers, dropped 22 kurus, or 2.4 percent, to 8.96 liras, after trading resumed for the first time since April 22. Turkcell asked for a suspension after shareholders failed to agree on changes to the board and a dividend payment on April 21. TeliaSonera AB, Russia’s Altimo and Cukurova Holding of Turkey are embroiled in a dispute over who controls the company and how it’s run.