The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.85% to 1,383.73 points, the Tel Aviv 100 Index rose 0.74% to 1,243.12 points, and the BlueTech 50 Index rose 0.74% to 308.17 points. Turnover was NIS 946.4 million.
The TASE rose in a late rally after the unexpected 4 pm announcement by the Bank of Israel that it was cutting the interest rate for September by 25 basis points to 0.25%.
In the foreign currency market, even before the announcement the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.543/$, up 0.682% on Friday's rate, and set the shekel-euro representative exchange rate at NIS 4.677/€, up 0.002%.
In the bond market, both long-term Shahar unlinked shekel government bonds and long term Galil CPI-linked government bonds rose. The corporate bond benchmark Tel-Bond 20 Index rose 0.38%.
In the stock market, the pharmaceutical companies led the late rally. Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) rose 1.12% on the day's highest trading turnover, Perrigo Company (NYSE:PRGO; TASE:PRGO) rose 1.43%, and Opko Health Inc. (NYSE: OPK; TASE: OPK) rose 3.75% for the highest rise on the Tel Aviv 25 Index.
There were also strong rises for Delek Group Ltd. (TASE: DLEKG), which was up 1.12% and its energy exploration units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling Limited Partnership (TASE: DEDR.L), which rose 2% and 2.35% respectively.
Elsewhere on the market Israel Chemicals Ltd. (TASE: ICL) rose 0.48% but Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) fell 0.91% for the largest fall on the Tel Aviv 25 Index. Another mobile operator Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) was down 0.24% but Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) was up 1.89%.
Published by Globes [online], Israel business news - www.globes-online.com - on August 25, 2014
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