Mon: Elbit soars on flat TASE

Elbit System rose strongly on reports that it was close to buying IMI while Israel Chemicals fell back after yesterday's huge gains.

The Tel Aviv Stock Exchange fell today. The Tel Aviv 35 Index fell 0.05% to 1,541.20 points; the Tel Aviv 125 Index fell 0.26% to 1,399.18 points; and the BlueTech Global Index fell 0.23% to 390.06 points. The TelBond 20 corporate bond index rose 0.16% to 347.21 points. Trading turnover was NIS 1.18 billion.

On the foreign currency market, the Bank of Israel set the shekel-dollar representative rate down 0.439% from Friday's exchange rate at NIS 3.400/$ and set the shekel-euro rate up 1.308% at 4.174/€.

On the market, Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) rose 8.06% for the biggest rise on the Tel Aviv 35 Index on the day's biggest trading turnover on reports that it was close to being allowed to buy IMI. Delek Group Ltd. (TASE: DLEKG) rose 1.21%, Frutarom Industries Ltd. (TASE: FRUT; LSE:FRUT; OTCBB:FRUTF) rose 1.72% and Strauss Group Ltd. (TASE:STRS) rose 2.27%.

Israel Chemicals (TASE: ICL: NYSE: ICL) fell 3.08% after yesterday's strong rises and parent company Israel Corporation (TASE: ILCO) fell 3.56% for the biggest fall on the Tel Aviv 35 Index today. Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) fell 2.51%, Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) fell 1.70% and Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) fell 3.18%.

Published by Globes [online], Israel business news - www.globes-online.com - on January 15, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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