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Turkey Stocks: Halkbank, Petkim Petrokimya, Turkish Airlines

Nov. 14 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index fell 0.6 percent to 55,875.72 at the close in Istanbul, reversing earlier gains of as much as 1 percent.

The following stocks were active.

Denizbank AS (DENIZ TI), the Turkish unit being sold by Belgium lender Dexia SA, fell 2.6 percent to 12.95 liras. OAO Sberbank, Russia’s largest lender, is abandoning efforts to buy the Turkish bank, saying it was too expensive, Reuters reported, citing three unidentified people.

Petkim Petrokimya Holding AS (PETKM TI), Turkey’s biggest chemicals maker, rose the most this month, adding 1 percent to 2.13 liras after the government announced a plan to sell its 10.3 percent stake within a year.

Turk Hava Yollari AO (THYAO TI), or Turkish Airlines, the national carrier, rose 2.9 percent to 2.51 liras, its biggest gain since Oct. 27, after reporting third-quarter profit of 76.7 million liras ($43.1 million). The company was predicted to report a loss of 84.4 million liras, according to the average of 11 analyst estimates on Bloomberg.

Turkiye Halk Bankasi AS (HALKB TI), a state-run bank, added 0.4 percent to 11.35 liras, paring a 0.9 percent drop in the previous session. The lender was named a preferred pick by JPMorgan Chase & Co., which raised its price estimate to 16.1 liras from 15 liras.

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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