The Tel Aviv Stock Exchange (TASE) was flat today. The Tel Aviv 25 index edged down 0.17% to 929.59 points, the Tel Aviv 100 edged down 0.07% to 936.13 points, and the Tel-Tech fell 0.2% to 377.79 points. Turnover was NIS 1.61 billion.
The TASE ended the week on a mixed note, after last-minute profit taking pushed some indices into negative territory. In the foreign currency market, the shekel again appreciated against the dollar, and prices rose in the bond market.
The Tel Aviv 25 index rose 1.6% for the week and 3.6% for the month.
In the stock market, the banks had the day’s largest trading volumes. Trends were mixed, however, and the Banking Index rose 0.2%. Bank Hapoalim (LSE: BKHD; TASE: POLI) fell 1.5%, Bank Leumi (TASE: LUMI) rose 0.3%, and Israel Discount Bank (TASE: DSCT) rose 5.4% on unexpectedly good quarterly financials.
Among other blue-chip stocks, Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) fell 2.2% under pressure from the US. The share was fairly stable for the week, however. Israel Chemicals Ltd. (TASE: CHIM) rose 1.1%, but Makhteshim Agan Industries Ltd. (TASE: MAIN) fell 2.5%, and Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) fell 1.8%.
Bezeq The Israeli Telecommunication Co. Ltd. (TASE: BEZQ) fell 0.4%, which did not prevent it from having the best monthly performance of a Tel Aviv 25 stock, with a 15% yield. Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR; LSE:PCCD) rose 2.5%.
Mixed trading in real estate stocks caused the Real Estate 15 index to edge down 0.1%. Elbit Medical Imaging Ltd. (Nasdaq: EMITF; TASE: EMIT) rose 2.1% after its Plaza Centers NV (LSE:PLAZ) subsidiary obtained final approval for its $1 billion Casa Radio complex in central Bucharest.
Also in the real estate sector, Housing and Construction Holding Co. Ltd. (Shikun u'Binui) (TASE: HUCN) rose 1.7% after its quarterly financials showed a turnaround in the company’s business. Lagna Holdings Ltd. (TASE;LGNA) fell 3.4% on profit taking. Two hot stocks of recent weeks are returning to earth: Asim Investments Ltd. (TASE:ASIM) fell 13.3% and Pangaea Real Estate Ltd. (TASE:PNGD) fell 12.1%.
Published by Globes [online], Israel business news - www.globes.co.il - on November 30, 2006
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