Anadolu Efes Slumps on Alcohol Ad Ban Proposal: Istanbul Mover
By Taylan Bilgic - May 13, 2013 9:55 AM ET
Anadolu Efes Biracilik & Malt Sanayii AS (AEFES) was set for the lowest close in seven weeks on speculation a proposal to ban alcoholic advertising will hurt profit at Turkey’s biggest brewer.
The shares fell 2.1 percent to 27.9 liras at 4:28 p.m. in Istanbul, set for the lowest since March 26 and bringing a four-day slump to 11 percent. About 235,413 shares were traded, more than 70 percent of the stock’s three-month daily average. Turk Tuborg Bira ve Malt Sanayii AS (TBORG), another Turkish beer-maker, retreated 1.6 percent. The benchmark Istanbul Stock Exchange National 100 (XU100) index advanced 0.1 percent.
More:Anadolu Efes Slumps on Alcohol Ad Ban Proposal: Istanbul Mover - Bloomberg