The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 1.11% to 1,179.12 points, the Tel Aviv 100 Index rose 1.41% to 1,109.52 points, and the Tel-Tech Index rose 1.45% to 247.76 points. Turnover was NIS 1.71 billion.
The market traded higher the entire day, based on a positive close on Wall Street on Friday, recent "Buy" recommendations on several shares, and continued investor excitement over fuel exploration company news.
In the foreign currency market, options pointed to a 0.48% fall in the shekel-dollar exchange rate to NIS 3.7/$, but a 0.09% rise in the shekel-euro exchange rate to NIS 5.3321/€. Like every Sunday, there was no inter-bank foreign currency trade.
Long-term Shahar unlinked government bonds rose by up to 0.3% and long-term Galil CPI-linked bonds rose by similar amounts. The corporate bond Tel-Bond 60 Index rose 0.4%.
Despite the fact that since the 1950s there has not been an oil find of commercial quantities in Israel, reports by firms in the field continue to fuel investor interest. During today's trade, Givot Olam Oil Exploration Limited Partnership (TASE:GIVO.L) jumped 9.1%, then settled to close up 2.65, after the partnership reported the completion of the drilling at its Meged 5 well, to 4,697 meters, and will now prepare for electric log test results.
Other fuel companies gained today as well. Delek Drilling Limited Partnership (TASE: DEDR.L) jumped 7.1%, and Avner Oil and Gas LP (TASE: AVNR.L) rose 4.8%. Parent firm Delek Group Ltd. (TASE: DLEKG)rose 4.9%.
The Banking Index rose 1.1%, with Bank Leumi (TASE: LUMI)rising 1.2% and Bank Hapoalim (TASE: POLI) gaining 0.5%.
Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA)rose 2.8%, as the market responded to Thursday's presentation of its strategic plan, which indicated expectations of reaching $31 billion in revenue by 2015.
The Real Estate Index rose 1.3%, with Delek Real Estate Ltd. (TASE: DLKR) rising 7.9%.
Biotech company Kamada Ltd. (TASE: KMDA) jumped 7.5% on news that it received orders from a company in Brazil, to export about $15 million of its products in 2010.
Avgol Nonwoven Industries Ltd. (TASE:AVGL) rose 6.7% after reporting a $105 million deal in China.
Published by Globes [online], Israel business news - www.globes-online.com - on January 10, 2010
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