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Turkey Stocks: Denizbank, Turkcell, Turkiye Garanti Bankasi

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Oct. 7 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index rose 110.25, or 0.2 percent, to 57,338.78 at 5:30 p.m. in Istanbul, paring its loss this week to 3.9 percent.

The following stocks were active.

Denizbank AS (DENIZ TI), Dexia’s Turkish unit, gained 22 kurus, or 2.7 percent, to 8.40 liras while the overall banking index fell 0.7 percent. Russia’s Sberbank is preparing an offer to buy the bank, according to French daily Les Echos.

Turkcell Iletisim Hizmetleri AS (TCELL TI), Turkey’s largest mobile phone company, fell 8 kurus, or 1 percent, to 8.24 liras. Murat Vargi, a founder and minority shareholder, said in a statement he was calling for an independent board to be appointed to prevent an ongoing shareholder dispute from dragging on the share price and harming minority shareholders, while shareholder Cukurova Holding lost a court case requesting the cancellation of a general shareholders meeting on Oct. 12, CNBC-e reported.

Turkiye Garanti Bankasi AS (GARAN TI), Turkey’s biggest bank by market value, lost 14 kurus, or 2.1 percent, to 6.52 liras, bringing its decline in the week to 9.9 percent after Goldman Sachs added the bank to its “focus sell” list on Oct. 3.

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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