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Turkey Stocks: Gubre, Fenerbahce, Turkish Air, Vestel Elektronik

Aug. 29 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index rose 238.53, or 0.4 percent, to 53,946.09 at the 12:30 p.m. close in Istanbul. Turkish markets closed after the first trading session today for a holiday break and will reopen Sept. 2.

The following stocks were active. Symbols are in parentheses.

Gubre Fabrikalari TAS (GUBRF TI), a fertilizer producer, dropped for a second day, losing 20 kurus, or 1.7 percent, to 11.40 liras after it said second-quarter profit retreated to 21.3 million liras ($12 million) from 47.8 million liras in the same period last year.

Fenerbahce Sportif Hizmetler Sanayi & Ticaret AS (FENER TI), which owns the licensing rights to the Fenerbahce sports team brand, jumped 3.70 liras, or 9.5 percent, to 47.70 liras, the biggest gain since Aug. 15. Turkey’s soccer federation will alter disciplinary rules so that Fenerbahce won’t be demoted from the Super League on allegations of match-fixing last season, Sabah newspaper reported. The changes would mean Fenerbahce will be penalized points and remain in the division, it said.

Turk Hava Yollari AO (THYAO TI), the national carrier known as Turkish Airlines, fell 2 kurus, or 0.8 percent, to 2.39 liras, extending losses this year to 47 percent. The airline reported a second-quarter loss of 220.6 million liras compared with a profit of 165.7 million liras in the same period last year, according to a statement sent to the exchange after the market close on Aug. 26.

Vestel Elektronik Sanayi & Ticaret AS (VESTL TI), a Turkish television maker, gained 3 kurus, or 1.5 percent, to 2.08 liras, the highest since Aug. 19. The company posted net income of 16.1 million liras in the second quarter compared with a loss of 18.3 million liras a year previously, according to a filing with the exchange Aug. 26.

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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