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Turkey Stocks: Akfen, Boyner, Cimsa, Fenerbahce Move in Istanbul

March 22 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index retreated 0.5 percent to 61,786.74 at the close in Istanbul, declining for a third day.

The following stocks were active. Stock symbols are in parentheses.

Akfen Holding AS (AKFEN TI), a Turkish group active in construction, energy and tourism, rose to the highest level in almost eight months, jumping 5.1 percent to 10.32 liras, after saying it started talks to sell a stake in its hydropower unit.

Boyner Buyuk Magazazicilik (BOYNR TI), a department store chain, slumped for a fourth day, retreating 3.1 percent to 3.12 liras after the Tan family, part-owner of Yeni Karamursel Giyim & Ihtiyac Maddeleri Ticaret Sanayi AS, or YKM, a rival company it bought last month, filed a court case to challenge the sale.

Cimsa Cimento Sanayi & Ticaret AS (CIMSA TI), a cement maker, fell for a third day, dropping 1.1 percent to 9.34 liras after reporting 2011 full-year profit that missed estimates.

Fenerbahce Sportif Hizmetler Sanayi & Ticaret AS (FENER TI), the Turkish soccer league champion that was banned from the Champions League after its president was arrested on charges of match fixing, jumped to the highest level in seven months, adding 9.8 percent to 52.80 liras. Prime Minister Recep Tayyip Erdogan told a meeting of the European soccer body UEFA that individuals and not teams should be punished.

The listed units of rival Istanbul clubs Besiktas Futbol Yatirimlari Sanayi & Ticaret AS (BJKAS TI) and Galatasaray Sportif Sinai & Ticari Yatirimlar AS (GSRAY TI) also gained, with Besiktas adding 1.8 percent to 6.84 liras and Galatasaray surging 18 percent to 230 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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