The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.82% to 1,295.16 points, the Tel Aviv 100 Index rose 0.80% to 1,195.44 points, and the Tel-Tech Index rose 0.59% to 242.51 points. Turnover was NIS 2.01 billion.
The TASE rally continued today, ending with Tel Aviv 25 Index edging near the 1,300-point threshold. Futures contracts pointed to gains on Wall Street, which materialized.
In the bond market, long-term Shahar unlinked government bonds fell by up to 0.1%, and long-term Galil CPI-linked bonds fell by up to 0.2%. The corporate bond benchmark Tel-Bond 20 Index fell 0.12%.
In the foreign currency market, the shekel-dollar representative exchange rate fell 0.22% to NIS 3.623/$, but the shekel-euro representative exchange rate rose 0.23% to NIS 4.839/€.
In the stock market, Israel Chemicals Ltd. (TASE: ICL) rose 4.1%, the biggest gain among Tel Aviv 25 shares, on the day's largest turnover of NIS 165 million, after acquiring the Scotts' Global Professional business from The Scotts Miracle-Gro Company (NYSE: SMG) for $270 million. Bank Hapoalim said that the acquisition would not only boost Israel Chemicals' business, but also give it ownership of the production chain of specialty fertilizers and benefit from synergies.
Israel Chemicals' parent company, Israel Corporation (TASE: ILCO), rose 2.6%.
The banks continued to be a focus of attention. Israel Discount Bank (TASE: DSCT) rose 2.9% after raising NIS 264 million in its share offering.
Tamar partner Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) corrected by 1.1% after yesterday's rise of 5.1%.
Going beyond the Tel Aviv 25, Enlight Renewable Energy Solutions Ltd. (TASE:ENLT) rose 2.7% after winning a Kiryat Yam tender to install ten photovoltaic facilities on the roofs of public buildings in the town at a cost of NIS 6 million. The company expects NIS 20 million revenue from electricity sales.
Published by Globes [online], Israel business news - www.globes-online.com - on December 7, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010