Zorlu Enerji Elektrik Uretim AS (ZOREN), a Turkish utility, fell in Istanbul after full-year loss widened to 407.4 million liras ($227 million), missing estimates.
Zorlu Enerji dropped 1.8 percent to 1.62 liras at 9:55 a.m. The loss widened from 66.7 million liras in 2010, Zorlu Enerji in a statement to the Istanbul Stock Exchange after the market closed yesterday. The company was expected to report a loss of 196.3 million liras, according to the average of nine analyst estimates compiled by Bloomberg.
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