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Turkey Stocks: Akfen Holding, Fenerbahce Sportif, Turk Telekom

Sept. 6 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index gained 964.98, or 1.8 percent, to 55,019.78 at the 5:30 p.m. close in Istanbul.

The following stocks were active. Symbols are in parentheses.

Akfen Holding AS (AKFEN TI), a group of companies with interests in construction and energy, jumped 46 kurus, or 5.3 percent, to 9.20 liras, its highest in a month, after it was initiated with a “buy” recommendation at Unicredit SpA.

Akfen Gayrimenkul Yatirim Ortakligi AS (AKFGY TI), Akfen’s real estate investment trust, gained 5 kurus, or 3.4 percent, to 1.51 liras. The company will invest 40 million euros ($57 million) in three hotels in Turkey to be managed by Accor SA, Chief Executive Officer Orhan Gunduz said at a news conference today.

Fenerbahce Sportif Hizmetler Sanayi & Ticaret AS (FENER TI), the merchandising arm of the Turkish soccer league champions, gained 65 kurus, or 1.4 percent, to 48.90 liras. Fenerbahce have narrowed expected financial losses from their Champions League ban through the transfer of five key players for about 31 million euros, Star newspaper reported today.

Turk Telekomunikasyon AS (TTKOM TI), the country’s largest phone company, jumped 34 kurus, or 4.2 percent, to 8.50 liras, its highest close since July 8. The company had its price target raised to 8.30 liras from 8.10 liras at Morgan Stanley.

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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