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Turkey Equity Movers: Arcelik, Erdemir, Galatasaray Sportif

Aug. 4 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index fell for a fifth day, losing 986.39, or 1.6 percent, to 60,328.69 at 3:33 p.m. in Istanbul.

The following stocks were active. Symbols are in parentheses.

Arcelik AS (ARCLK TI), Turkey’s largest household appliances maker, dropped 12 kurus, or 1.7 percent, to 7.14 liras, after losing as much as 3 percent to 7.04 liras, its lowest since March 18. Arcelik, owned by Koc Holding AS, said second-quarter profit declined to 137.2 million liras ($80 million) from 160.8 million liras a year earlier.

Eregli Demir & Celik Fabrikalari AS (EREGL TI): Turkey’s biggest flat-steel maker rose 7 kurus, or 1.9 percent, to 3.79 liras, after advancing as much as 4.8 percent in the biggest increase since May 31. Erdemir reported net income of 294.1 million liras, compared with 243.7 million liras a year earlier. It was expected to earn 162.2 million liras, according to the average of five analyst estimates compiled by Bloomberg.

Galatasaray Sportif Sinai & Ticari Yatirimlar AS (GSRAY TI), fell 7 liras, or 2.3 percent, to 300 liras, after losing as much as 4.9 percent to 292 liras, its lowest since November 2010. The merchandising unit of Galatasaray SK, a Turkish top-league soccer team, dropped after prosecutors widened their probe of an alleged match-fixing scheme to include the club, according to NTV news channel.

To contact the reporter on this story: Aydan Eksin in Istanbul at +90-212-317-3904 or

To contact the editor responsible for this story: Shaji Mathew at +971-4-364-1028 or

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