Bloomberg News

Turkey Stocks: Besiktas, Turkish Airlines Move in Istanbul

May 30, 2012

Turkey’s benchmark ISE National 100 Index (XU100) fell 0.6 percent to 55,125.29 at the close in Istanbul after declining as much as 1.3 percent in intraday trading.

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

Besiktas Futbol Yatirimlari Sanayi & Ticaret AS (BJKAS TI), the merchandising unit of Turkish sports club Besiktas, plunged to the lowest level in almost two years, falling 8.8 percent to 4.33 liras, after saying in a statement to the Istanbul Stock Exchange its soccer team has been banned from the Union of European Football Associations, or UEFA, competitions for a year and fined 200,000 euros ($248,000) for erroneous financial statements.

Turk Hava Yollari (THYAO) AO, the carrier known as Turkish Airlines, fell 1.6 percent to 2.52 liras, the lowest since March 13, after canceling flights for a second day amid a pay dispute which prompted a go-slow action by employees yesterday.

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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