Enka Gains in Istanbul as Full-Year Profit Rises: Istanbul Mover
The shares increased 2 percent to 5.20 liras, its highest since Feb. 8, while the Istanbul Stock Exchange National 100 Index fell 0.6 percent, the measure’s first decline in six days.
Enka’s results showed a “basic improvement in the company’s financials” from its rent and energy businesses, “as a result of an increase in rents, especially in the Russian Federation, along with an increase in electricity prices,” Hakan Aklar, chief economist for Istanbul-based brokerage Ak Investment, said in an e-mailed note to clients.
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