Akenerji Declines to Month Low on Wider-Than-Estimated Loss

Akenerji Elektrik Uretim AS (AKENR TI), the utility owned by CEZ AS and Akkok Group, fell to its lowest in almost a month after reporting its full-year loss that was bigger than analysts expected.

The shares dropped 0.9 percent to 2.2 liras at 4:43 p.m. in Istanbul, headed for the lowest close since Feb. 3.

The loss widened to 211 million liras ($121 million) last year from 26.4 million liras a year earlier, it said in a statement to the Istanbul Stock Exchange after the market closed yesterday. That was more than the 93.5 million liras average of 17 analyst estimates compiled by Bloomberg.