Wed: Partner propels market gains

Partner clawed back much of the week's losses as Haim Saban tries to buy more shares of the mobile carrier from Bank Leumi and other institutional investors.

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.82% to 1,226.34 points, the Tel Aviv 100 Index rose 1.08% to 1,080.19 points, and the TechBlue 50 Index rose 0.91% to 325.66 points. Turnover was NIS 1.22 billion.

The TASE was rose today, in line with gains in European markets and at the opening on Wall Street.

In the bond market, long-term Shahar government shekel bonds were unchanged and long-term Galil CPI-linked government bonds fell by up to 0.3%. The corporate bond benchmark Tel-Bond 20 Index fell 0.11%.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.75/$, down 0.504% on yesterday's rate, and set the shekel-euro representative exchange rate at NIS 4.98/€, up 0.22%.

In the stock market, mobile carrier Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) stood out with a rise of 7% after falling 10% since the start of the week. Hadas-Arazim senior investment manager Shai Shemesh said that the positive trend was supported by Haim Saban's efforts to buy more shares in the company that are currently held by Bank Leumi and other institutional investors at a 16% premium on this morning's opening price.

The Banking Index rose by 0.9% with Bank Leumi (TASE: LUMI) up 0.9% and Bank Hapoalim (TASE: POLI) up 0.5%. The Insurance Index rose 3.4% after rising 3.2% yesterday with Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS) up 4.8% after reporting the sale its US investment house Titanium. Harel Insurance Investments and Financial Services Ltd. (TASE: HARL) rose 4.4%.

IDB Holding Corp. Ltd. (TASE:IDBH) unit Property and Building Ltd. (TASE: PTBL) rose 18.2% after reporting that it had received an offer for the HSBC building in New York.

Published by Globes [online], Israel business news - - on December 19, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

View comments in rows
Update by email about comments talkback
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018