Sun: Banks pull market down

The banks fell today, as did Israel Chemicals on the day's biggest turnover, but Perrigo bucked the market.

The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 0.23% to 1,198.56 points, the Tel Aviv 100 Index dipped 0.02% to 1,095.01 points, but the BlueTech 50 Index rose 0.84% to 323.68 points. Turnover was NIS 461.6 million.

The leading TASE indices fell today, despite gains on European markets and on Wall Street on Friday.

In the foreign currency market, options pointed to a 0.08% gain in the shekel-dollar exchange rate, compared with Friday's representative rate, to NIS 3.591/$, and to a 0.46% gain in the shekel-euro exchange rate to NIS 4.811/€.

In the bond market, government Shahar unlinked shekel bonds rose by up to 0.5% and CPI-linked Galil bonds rose by up to 0.6%. The corporate bond benchmark Tel-Bond 20 Index rose 0.29%.

In the stock market, Israel Corporation (TASE: ILCO) fell 1.1%. During the session, the share price fell 99%, apparently because of a technical error by a market maker, which was quickly corrected. Subsidiary Israel Chemicals Ltd. (TASE: ICL) fell 0.8% on the day's biggest turnover of NIS 26 million.

Osem Investments Ltd. (TASE: OSEM) fell 0.9%, after publishing its financials.

Bank Leumi (TASE: LUMI) fell 1.2% and Bank Hapoalim (TASE: POLI) fell 0.9%, dragging the Banking Index down 0.9%.

Perrigo Company (NYSE:PRGO; TASE:PRGO) rose 1.4% for the biggest gain among Tel Aviv 25 shares, and Gazit-Globe Ltd. (NYSE: GZT; TASE: GZT) fell 1.5%, for the biggest loss on the index.

On the Tel Aviv 100 Index, Compugen Ltd. (Nasdaq: CGEN; TASE: CGEN) rose 7.8%, to complete an 80% gain since the beginning of the month, helping boost the Biomed Index 2.5%. Avgol Nonwoven Industries Ltd. (TASE:AVGL) fell 4.8%, after publishing its financials, and announcing an investment in a new production line Russia and the resignation of its CEO.

Elsewhere in the market, Hamashbir 365 Holdings Ltd. (TASE:MSAH) rose 50.6%, after announcing an investment in the company, and Mazor Robotics Ltd. (Nasdaq: MZOR; TASE:MZOR) rose 8.5% on a positive arbitrage gap.

Published by Globes [online], Israel business news - www.globes-online.com - on August 25, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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