Feb. 23 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index fell 2 percent to 59,666.62 at the close in Istanbul, its biggest loss in almost seven weeks, after Morgan Stanley said Turkish equities are “ripe for reversal.”
The following stocks were active. Stock symbols are in parentheses.
Asya Katilim Bankasi AS (ASYAB TI), an Islamic bank, declined 4.2 percent to 1.83 liras, its biggest loss this year, after reporting a 27 percent plunge in fourth-quarter profit, missing estimates.
TAV Havalimanlari AS (TAVHL TI), Turkey’s biggest airport operator, gained 1.6 percent to 8.80 liras. Aeroports de Paris, the owner of Paris’s Charles de Gaulle airport, is competing with French builder Vinci SA for a stake in the company, two people with direct knowledge of the sales process said.
Turkcell Iletisim Hizmetleri AS (TCELL TI), Turkey’s largest mobile-phone company, slipped 3.1 percent to 9.40 liras, its biggest retreat since November. The company hasn’t decided on a management proposal to convene a new extraordinary shareholders’ meeting relating to its delayed 2010 dividend payout, Chief Executive Officer Sureyya Ciliv said.
Yapi & Kredi Bankasi AS (YKBNK TI), the bank part-owned by UniCredit SpA, plunged 5.7 percent to 3.30 liras, its biggest decline since Dec. 8. The company reported fourth-quarter profit of 474.6 million liras ($269 million), lagging estimates, and said it has agreed to pay 8.3 percent above the benchmark three-month London interbank offered rate on its $585 million securitized loan from UniCredit.
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