Bloomberg News

Turkey Stocks: Denizbank, Deniz Yatirim, Dogan, Turk Traktor

October 17, 2011

Oct. 17 (Bloomberg) -- Turkey’s benchmark ISE National 100 Index fell 1.5 percent to 58,442.44 at the close in Istanbul. Of 100 shares on the index, 76 fell, 10 gained and 14 were unchanged.

The following stocks were active.

Denizbank AS (DENIZ TI), Dexia SA’s Turkish unit, fell 13 percent to 13.40 liras after gaining 83 percent last week. Dexia hired Bank of America Merrill Lynch and White & Case LLP to evaluate strategic options for its stake in the Turkish lender, Denizbank said in a filing with the Istanbul Stock Exchange today.

Deniz Yatirim Ortakligi AS (DNZYO TI), Denizbank’s investment trust, plunged for a second day, losing 16 percent to 1.75 liras. Deniz Securities sold 370,000 shares in the company, it said in a statement to the exchange today.

Turk Traktor & Ziraat Makineleri AS (TTRAK TI), a maker of farm equipment owned by Koc Holding AS, rose for the first time in four days, adding as much as 1.1 percent before closing up 0.3 percent at 35.20 liras. The company set up an extra facility at Otokar Otomotiv & Savunma Sanayi AS’s factory in northwestern Turkey to make 10,000 additional tractors and meet demand, Milliyet newspaper reported.

Otokar (OTKAR TI) gained 0.6 percent to 35.50 liras.

--Editors: Ana Monteiro, Alex Nicholson

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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