Wed: TASE gives 2014 positive start

The main indices rose strongly today, led upwards by Israel Corp., the banks, and partners in the Tamar gas field.

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.77% to 1,339.62 points, the Tel Aviv 100 Index rose 0.96% to 1,219.32 points, and the BlueTech 50 Index rose 1.30% to 343.26 points. Turnover was NIS 988.8 million.

The TASE rose today, while European markets and Wall Street were closed for New Year's Day.

In the foreign currency market, options pointed to a 0.16% drop in the shekel-dollar exchange rate, compared with yesterday's representative rate, to NIS 3.466/$, and a 0.32% drop in the shekel-euro exchange rate, to NIS 4.766/€.

In the bond market, long-term Shahar unlinked shekel government bonds and long term Galil CPI-linked government bonds fell. The corporate bond benchmark Tel-Bond 20 Index fell 0.16%.

In the stock market, Israel Corporation (TASE: ILCO) rose 4% for the biggest gain among Tel Aviv 25 shares. Bank Leumi (TASE: LUMI) rose 1.3% on the day's biggest turnover of NIS 31.4 million and Bank Hapoalim (TASE: POLI) rose 2.1%.

Tamar partners Delek Group Ltd. (TASE: DLEKG) and Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) both rose, by 2.4% and 1.2%, respectively, on a new gas purchasing agreement.

Opko Health Inc. (NYSE: OPK; TASE: OPK) fell 1.2% for the biggest loss among Tel Aviv 25 shares.

Elsewhere in the market, Summit Real Estate Holdings Ltd. (TASE: SMT) rose 5.5%, after announcing that it would refloat subsidiary Summit Germany Ltd. on London’s Alternative Investment Market (AIM).

IDB Holding Corp. Ltd. (TASE:IDBH) fell 2.2%. Elbit Imaging Ltd. (Nasdaq: EMITF; TASE: EMIT) fell 2.3%, after the court approved the debt settlement for the company.

Published by Globes [online], Israel business news - www.globes-online.com - on January 1, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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