Turkey Stocks: Ege Gubre, Finansbank, Vestel Elektronik Move

Turkey’s benchmark ISE National 100 Index slid 0.3 percent to 51,591.56 at the close in Istanbul.

The following companies were active on the Turkish stock market today. Stock symbols are in parentheses.

Ege Gubre Sanayii AS (EGGUB TI), a Turkish fertilizer producer, retreated 3.5 percent to 75.00 liras, the lowest level since Aug. 10. Ege Gubre suspended production as demand fell because of seasonal factors and price fluctuations in world fertilizer markets, it said in a statement to the Istanbul Stock Exchange after the close yesterday.

Finansbank AS (FINBN TI), the Turkish bank owned by the National Bank of Greece, rose 1.2 percent to 4.37 liras. NBG’s strategy for Finansbank hasn’t changed and it still plans to sell as much as a 25 percent stake, the Greek bank’s Chief Executive Officer Apostolos Tamvakakis said in Athens today.

Vestel Elektronik Sanayi & Ticaret AS (VESTL TI), a Turkish manufacturer of televisions and computers, surged 6.2 percent to 1.89 liras, the biggest increase since May 31. Vestel Elektronik will sign a 339.6 million liras ($180 million) contract within 10 days to supply 84,921 interactive boards for classrooms, HaberTurk reported, citing unidentified government officials. Vestel made the lowest bid of 339.6 million liras in the related auction, the company said Dec. 2.

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