Tue: Delek units soar ahead of merger

Avner and Delek drilling rose strongly on a flat market as Opko led the declines.

The Tel Aviv Stock Exchange rose today. The Tel Aviv 35 Index rose 0.02% to 1,432.81 points; the Tel Aviv 125 Index rose 0.14%, to 1,305.80 points; but the BlueTech Global Index fell 0.24% to 380.84 points. The TelBond 20 corporate bond index fell 0.06% to 333.90 points. Trading turnover was NIS 1.28 billion.

On the foreign currency market, the Bank of Israel set the shekel-dollar representative rate up 0.222% today compared with yesterday's rate at NIS 3.606/$, and the representative shekel-euro rate was set up 1.029% at NIS 3.985/€.

On the market, Delek Group Ltd. (TASE: DLEKG) rose 1.90%. ahead of their merger as from Sunday, Delek's energy exploration and production units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) rose 3.90% and 3.87% respectively - the former was the biggest rise on the Tel Aviv 35 Index today. Frutarom Industries Ltd. (TASE: FRUT; LSE:FRUT; OTCBB:FRUTF) rose 2.37% and Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) rose 0.60%, up for the third straight session.

Opko Health Inc. (NYSE: OPK; TASE: OPK) fell 3.36% for the biggest fall on the Tel Aviv 35 Index. Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) fell 1.14% and Airport City Ltd. (TASE:ARPT) also fell 1.14%. Bank Leumi (TASE: LUMI) fell 0.82% on the day's biggest trading turnover and Bank Hapoalim (TASE: POLI) fell 0.26%.

Published by Globes [online], Israel business news - www.globes-online.com - on May 16, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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