Sun: Delek drives market rebound

Delek and its energy units led the market upwards today along with Teva and NICE Systems.

The Tel Aviv Stock Exchange rose today following strong gains on world markets on Friday. The Tel Aviv 25 Index rose 1.03%, to 1,397.61 points; the Tel Aviv 100 Index rose 1.43%, to 1,1197.77 points; and the BlueTech Index rose 2.28% to 282.19 points. The TelBond 20 corporate bond index rose 0.50%, to 305.15 points. Trading turnover was NIS 549.4 million.

On Friday, the Bank of Israel set the shekel-dollar representative rate down 0.154% from Thursday's rate at NIS 3.882/$, and the representative shekel-euro rate was set down 0.570% at NIS 4.375/€.

On the market, Delek Group Ltd. (TASE: DLEKG) rose 2.48% for the biggest rise on the Tel Aviv 25 Index. Delek's energy exploration and production units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) rose 1.06% and 1.30% respectively.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) rose 1.60% on the day's biggest trading turnover, Israel Chemicals (TASE: ICL: NYSE: ICL) rose 1.10% and NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) rose 2.39%. Also in positive territory were Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) up 1.60%, Frutarom Industries Ltd. (TASE: FRUT; LSE:FRUT; OTCBB:FRUTF) up 1.56%, and Melisron Ltd. (TASE: MLSR) up 1.84%.

Only two shares on the Tel Aviv 25 index fell today, and both of those barely. Osem Investments Ltd. (controlled by Nestle SA (SWX:NESN)) (TASE: OSEM) fell 0.19% and Strauss Group Ltd. (TASE:STRS) fell 0.06%.

Published by Globes [online], Israel business news - www.globes-online.com - on February 14, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

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