Zorlu shares surge on hopes Turkey normalizing Israel ties
None
Shares in Turkey's Zorlu Energy, which is involved in energy projects in Israel, surged as much as 10 percent on Friday after an Israeli official said a preliminary deal had been reached with Turkey to normalize relations.
The announcement, which comes at a critical time for both countries, could have widespread implications, particularly when it comes to energy. A Turkish official confirmed that talks had taken place but denied any agreement had been reached, adding efforts to normalize relations were continuing.
At 0828 GMT, Zorlu Energy shares were 10.32 percent higher at 1.39 lira.
Zorlu Energy has a 25 percent stake in Dorad Energy, which owns a 840 megawatt (MW) power plant in Israel built with an investment of $1.2 billion that came online in May 2014.
