The Tel Aviv Stock Exchange (TASE) edged down today. The Tel Aviv 25 Index fell 0.12% to 1,121.17 points, the Tel Aviv 100 Index fell 0.17% to 1,000.94 points, but the BlueTech 50 Index rose 0.36% to 244.29 points. Turnover was NIS 1.02 billion.
The TASE seesawed wildly today, before ending the session down slightly. Turnover was again thin. Futures contracts pointed to losses at the opening on Wall Street, which materialized.
Clal Finance said that, despite the recent market volatility, movement on the Tel Aviv 100 Index exceeded 2% on just 11 days so far this year, compared with the annual average of 30 days. In 2008, the index moved by over 2% on 62 days.
In the bond market, long-term Shahar unlinked government bonds ranged between losses of 0.1% and gains of 0.2%, and long-term Galil CPI-linked bonds rose by up to 0.6%. The corporate bond benchmark Tel-Bond 20 Index rose 0.65%.
In the foreign currency market, the shekel-dollar representative exchange rate fell 0.94% to NIS 3.572/$, and the shekel-euro representative exchange rate fell 1.61 % to NIS 5.144/€.
In the stock market, Mizrahi Tefahot Bank (TASE:MZTF) was the focus of attention, rising 0.3% after publishing its financials. Bank Hapoalim (TASE: POLI) fell 0.3% and Bank Leumi (TASE: LUMI) fell 0.2%. Both banks will publish their second quarter financial reports tomorrow.
Israel Chemicals Ltd. (TASE: ICL) fell 1.9% to NIS 50. UBS today reiterated its "Buy" recommendation for the company with a target price of NIS 68. Its parent company, Israel Corporation (TASE: ILCO) fell 2.5% for the biggest loss among Tel Aviv 25 shares.
Makhteshim Agan Industries Ltd. (TASE: MAIN) rose 2.7%, for the biggest gains among Tel Aviv 25 shares.
Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) rose 0.9% on the day's biggest turnover of NIS 72.6 million.
Small-cap BiondVax Pharmaceuticals Ltd. (TASE:BNDX) rose 13.3% after announcing the start of the second part of its Phase II clinical trial for its universal flu vaccine.
Small-cap Gadot Biochemical Industries Ltd. (TASE: GDBC) rose 127.6% after its controlling shareholder Delek Group Ltd. (TASE: DLEKG) announced an offer to purchase at a premium of 128%.
Published by Globes [online], Israel business news - www.globes-online.com - on August 30, 2011
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