Fenerbahçe beats its rivals on stock market

ISTANBUL - Anatolia News Agency

Defending champions Galatasaray loses big on Istanbul Stock Exchange. AA photo

Stocks in Turkey’s Fenerbahçe football team seem to be unaffected by a match-fixing case, as the company’s shares on the Istanbul Stock Exchange (İMKB) climbed last year, carrying the total value of the club to 1.75 billion Turkish Liras. The defending champions Galatasaray, meanwhile, suffered a 26 percent fall on the İMKB.

According to İMKB data gathered by the Anatolia news agency, the total value of the four clubs trading on the bourse decreased 14 percent to 2 billion liras at the end of 2012 from Jan. 31 of that year.

During the given period, Galatasaray AS, the club’s company, lost 29.6 percent, falling to 1 billion liras in value.

The shares in Fenerbahçe, the most valuable Turkish club on the stock market, gained 1 percent in the given time. Beşiktaş and Trabzon, the other two clubs trading on the bourse, also posted losses. Trabzon fell 18.6 percent to 268.8 million liras. These fluctuations come at a time when the stock exchange gained over 30 percent overall.