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Turkish shares up on Gozde move, gains checked by Ukraine tensions
August 7, 2014 / 8:06 AM / 3 years ago

Turkish shares up on Gozde move, gains checked by Ukraine tensions

ISTANBUL, Aug 7 (Reuters) - A move by Yildiz Holding to sell a stake in its private equity arm supported the main Turkish stock index on Thursday, but Ukraine-related tensions kept gains in check.

Islamic lender Bank Asya fell 6.8 percent after Yigit Bulut, an adviser to Prime Minister Tayyip Erdogan, contradicted comments by Deputy Prime Minister Ali Babacan that it could be bought by state-run Ziraat Bank.

Shares in Yildiz Holding’s private equity firm Gozde Girisim rose as much as 10.7 percent after Yildiz, which also owns chocolate maker Godiva and other confectioners, said late on Wednesday it will sell up to 10 percent of Gozde to foreign investors within a year.

Persistent tensions in Ukraine and investor anxiety over the impact counter-sanctions imposed by Russia continued to drive an emerging market sell-off.

The main Istanbul share index edged up 0.18 percent to 79,575 points by 0744 GMT, outperforming the broader emerging markets index which fell 0.45 percent.

The lira slipped to 2.1662 against the dollar, from 2.1617 late on Wednesday.

The benchmark 10-year government bond yield fell to 9.50 percent from 9.55 percent at Wednesday’s close. (Reporting by Dasha Afanasieva; Editing by Daren Butler and John Stonestreet)

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