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Turkey Stocks: Bank Asya, Marshall Boya, Teknosa, Zorlu Enerji

May 17 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index fell 1.3 percent to 57,331.17 at the close in Istanbul. Banking shares led declines, with the banking index dropping 2.9 percent to its lowest since Jan. 25.

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

Asya Katilim Bankasi AS (ASYAB TI), an Islamic bank, dropped 3.5 percent to 1.64 liras, its lowest since Jan. 23. Brokerage FinansInvest cut the shares to the equivalent of hold, saying the bank “continues to disappoint investors with its poor risk management” and its “problematic loan stock continues to grow.”

Marshall Boya & Vernik Sanayii AS (MRSHL TI), a manufacturer of paint and other coatings, gained the most since April 20, adding 5.7 percent to 55.75 liras, after saying it won a 21.1 million lira ($11.6 million) auction from the Turkish highways authority.

Teknosa Ic & Dis Ticaret AS (TKNSA TI), a Turkish electronics retailer owned by Haci Omer Sabanci Holding AS, slumped on the first day of trading on the Istanbul Stock Exchange, losing 2.2 percent to 7.58 liras. Sabanci sold an 11.5 percent stake in the company in an initial public offering last week.

Zorlu Enerji Elektrik Uretim AS (ZOREN TI), a Turkish utility, jumped 2.6 percent to 1.19 liras after reporting a first-quarter profit of 100.5 million liras ($55 million) which exceeded analysts’ estimates.

To contact the reporter on this story: Benjamin Harvey in Istanbul at

To contact the editor responsible for this story: Gavin Serkin at

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