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Turkish Equity Movers: Dogus Oto, Koc, Petrol Ofisi, Turcas

May 13 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index fell 840.77, or 1.3 percent, to 65,694.36 at the 12:30 p.m. break in Istanbul.

The following stocks were active. Symbols are in parentheses.

Dogus Otomotiv Servis & Ticaret AS (DOAS TI), the distributor of Volkswagen AG cars in Turkey, fell 18 kurus, or 3.2 percent, to 5.48 liras after the company said first-quarter profit fell to 17.1 million liras ($11 million), missing estimates. Turkey increased taxes on automobile imports from Mexico, where the best-selling Volkswagen Jetta is produced, Hurriyet newspaper reported today.

Koc Holding AS (KCHOL TI), Turkey’s biggest group of companies, fell 10 kurus, or 1.3 percent, to 7.78 liras. First-quarter net income jumped to 597.2 million liras from 358.8 million liras in the same period of 2010, according to a statement to the exchange today.

Petrol Ofisi (PTOFS TI), owned by OMV AG and Turkey’s biggest fuel retailer, jumped after saying it will withdraw an application to delist its shares from the Istanbul Stock Exchange. The shares rose 38 kurus, or 5.6 percent, to 7.16 liras, the highest since March 24.

Turcas Petrol AS (TRCAS TI), an energy company, dropped 10 kurus, or 2.4 percent, to 4.08 liras after saying first-quarter net income fell to 14.1 million liras, from 20.9 million liras in the same period of 2010.

Turk Hava Yollari AO (THYAO TI), the national airline, declined 13 kurus, or 2.8 percent, to 4.45 liras. Turkish Airlines, as the company is known, reported a first-quarter loss of 332.3 million liras, exceeding estimates. The company earned 119.6 million liras in the same period of 2010.

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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