Tofas Advances as Fiat Affiliate Plans New Model: Istanbul Mover
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Tofas Turk Otomobil Fabrikasi AS, the Turkish carmaker part-owned by Fiat SpA, climbed for a second day on bets plans to roll out a new vehicle will boost revenue from exports.
Shares of Tofas advanced 2.2 percent to 13.9 liras at the close in Istanbul, the highest level since Oct. 21 and taking the two-day gain to 3.7 percent. Almost 1.5 million shares traded, just above the three-month daily average, data compiled by Bloomberg show. The Borsa Istanbul National 100 Index added