The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 0.26% to 1,029.13 points, the Tel Aviv 100 Index fell 0.45% to 936.83 points, and the BlueTech 50 Index fell 0.45% to 260.33 points. Turnover was NIS 1.18 billion.
The TASE fell for the fifth straight day, giving up early gains as the Euro bloc debt crisis deepened and there was negative growth data from both the US and China. Futures contracts on Wall Street were negative and losses materialized.
In the bond market, long-term Shahar unlinked bonds rose by up to 0.1% and long-term Galil CPI-linked bonds were mixed between 0.2% down and 0.1% up. The benchmark Tel-Bond 60 Index fell 0.1%
In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.761/$, up 0.78% on the day before, and set the shekel-euro representative exchange rate at NIS 5.035/€, down 0.43%.
In the stock market, Israel Corporation (TASE: ILCO) fell 3.1% after falling 2.1% yesterday on continued fears about the mounting losses of its unit Zim Integrated Shipping Services Ltd.. Yesterday, "Globes" revealed that Idan Ofer plans injecting $100 million into Zim including $50 million via Israel Corp. Another Israel Corp unit Israel Chemicals Ltd. (TASE: ICL) was unchanged on a trading turnover today of NIS 76 million.
Cellular carrier Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) rose 1.3% despite publishing disappointing financials that included a 44% drop in profit. Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) fell 1.3% and Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) was down 1.9%.
Azrieli Group Ltd. (TASE: AZRG) rose 0.7% in the wake of a rating upgrade by S&P, and Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) rose 0.7% despite having its target price lowered by Union Bank of Israel (TASE: UNON).
Published by Globes, Israel business news - www.globes-online.com - on November 23, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011