Sun: TASE begins week in negative territory

Delek Group and its energy exploration units Avner and Delek Drilling all lost ground.

The Tel Aviv Stock Exchange (TASE) fell today in very thin trading. The Tel Aviv 25 Index fell 0.20% to 1,395.45 points, the Tel Aviv 100 Index fell 0.30% to 1,252.53 points, and the BlueTech 50 Index fell 1.11% to 311.86 points. Turnover was NIS 308 million.

The TASE fell in line with losses in Europe and on Wall Street on Friday and was not helped by the continuing conflict with Hamas.

In the foreign currency market, options pointed to a 0.07% fall in the shekel-dollar exchange rate, compared with Friday's representative rate, to NIS 3.424/$, and to a 024% fall in the shekel-euro exchange rate to NIS 4.603/€.

In the bond market, long-term Shahar unlinked shekel government bonds and long term Galil CPI-linked government fell. The corporate bond benchmark Tel-Bond 20 Index fell 0.01%.

In the stock market, Gazit-Globe Ltd. (NYSE: GZT; TASE: GZT) fell 2.21% for the biggest loss on the Tel Aviv 25 Index.

Delek Group Ltd. (TASE: DLEKG) fell 0.82% and its energy exploration units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling Limited Partnership (TASE: DEDR.L) fell 1.24% and 1.24% respectively after Noble Energy reported it expects a slight fall in the sales of Tamar gas due to Operation Protective Edge.

Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) bucked the market rising 0.92%, for the largest rise on the Tel Aviv 25 as did Perrigo Company (NYSE:PRGO; TASE:PRGO), which was up 0.55%. Bank Hapoalim (TASE: POLI) fell 0.05% on the day's largest trading turnover.

Elsewhere in the market, U. Dori Construction Ltd. (TASE: DORI) fell 45% after reporting that it had erased equity.

Published by Globes [online], Israel business news - www.globes-online.com - on July 27, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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