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Turkey Stocks: Asya Katilim, Otokar, Vestel Elektronik Move

May 14 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index fell 1.7 percent to 57,853.86 at the close in Istanbul, declining for the first time in three days.

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

Asya Katilim Bankasi AS (ASYAB TI), an Islamic bank, slid 5.1 percent to 1.69 liras, its biggest loss since Nov. 21. The bank is waiting for “the right market conditions” to issue $300 million of sukuk bonds as “unfortunately things are not good abroad,” Chief Executive Abdullah Celik said in an interview today.

Otokar Otomotiv & Savunma Sanayi AS (OTKAR TI), a producer of buses and military trucks, rose 1.4 percent to 30 liras after saying it received a contract for armored vehicles worth about 39.5 million liras ($21.9 million).

Vestel Elektronik Sanayi & Ticaret AS (VESTL TI), a consumer electronics and home appliances manufacturer, gained 0.5 percent to 2.07 liras, trimming a gain of as much as 7.3 percent in the day, after saying in a filing for tax purposes only that its first-quarter profit was 90.7 million liras.

To contact the reporter on this story: Mark Bentley in Istanbul at mbentley3@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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