Thu: Meitav Dash soars

The main indices fell today, although leading stock Teva rose, while investment house Meitav Dash predictably benefited from its NIS 1.48 billion sale.

The Tel Aviv Stock Exchange fell today. The Tel Aviv 25 Index fell 0.53%, to 1,438.25 points; the Tel Aviv 100 Index fell 0.39%, to 1,258.89 points; and the BlueTech Index fell 1.39%, to 360.35 points. The TelBond 20 corporate bond index rose 0.11%, to 320.74 points. Turnover totaled NIS 1.32 billion.

On the foreign exchange market, the representative shekel-dollar rate was set 0.16% lower, at NIS 3.8330/$, and the representative shekel-euro rate was set 0.13% lower, at NIS 4.0755/€.

Teva led trading today, and rose 1.41%. Israel Chemicals also rose, by a handsome 2.65%, but the remaining stocks in the top five fell heavily: Bank Hapoalim by 1.56%; Bezeq by 2.97%; and Elbit Systems by 2.01%.

Meitav Dash, which is being acquired London-based private equity firm XIO Group for NIS 1.48 billion in a deal that in one alternative offers shareholders a 61% premium on the investment house's opening price today, rose by all of 26.19%. Shimun & Binui rose 4.74%, Kenon by 3.84%, and Clal Insurance by 3.24%.

Published by Globes [online], Israel business news - www.globes-online.com - on December 1, 2016

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

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