The Tel Aviv Stock Exchange fell today after rallying in the morning, still weighed down by the Brexit vote, which was offset by the reconciliation deal between Israel and Turkey. The Tel Aviv 25 Index fell 0.35% to 1,382.34 points; the Tel Aviv 100 Index fell 0.51%, to 1,196.27 points; and the BlueTech Index fell 0.31% to 315.00 points. The TelBond 20 corporate bond index fell 0.03% 318.06 points. Trading turnover was NIS 1.63 billion.
On the foreign currency market, the Bank of Israel set the shekel-dollar representative rate up 0.386% today compared with Friday's rate at NIS 3.900/$, and the representative shekel-euro rate was set down 0.637% at NIS 4.291/€. The shekel strengthened against sterling by a further 3.558% with the rate falling to NIS 5.15/£, meaning sterling has lost 9.8% against the shekel since Thursday.
On the market, Israel Chemicals (TASE: ICL: NYSE: ICL) fell 3.24% and parent company Israel Corporation (TASE: ILCO) fell 4.96% for the biggest fall on the Tel Aviv 25 index today. Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 1.29% and Opko Health Inc. (NYSE: OPK; TASE: OPK) fell 1.94%.
Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) rose 1.08% on the hope that trade ties with Turkey being fully restored there could be new contracts. On talk of a gas pipeline to Turkey, Delek Group Ltd. (TASE: DLEKG) rose 0.74% and its energy units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) rose 2.17% and 1.96% respectively, the former being the biggest rise on the Tel Aviv 25 Index today.
The banks steadied after yesterday's heavy losses and Bank Hapoalim (TASE: POLI) even rose 0.31% on the day's biggest trading turnover.
Published by Globes [online], Israel business news - www.globes-online.com - on June 27, 2016
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