The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.96% to 1,222.67 points, the Tel Aviv 100 Index rose 0.94% to 1,110.99 points, and the BlueTech 50 Index rose 0.29% to 263.32 points. Turnover was NIS 1.95 billion.
The TASE rose across the board for the second straight day today. Futures contracts pointed to gains at the opening on Wall Street, which materials, and gave the TASE a late boost.
In the bond market, long-term Shahar bonds rose by up to 0.1%, and long term CPI-linked Galil bonds ranged between losses of 0.1% and gains of 0.1%. The corporate bond benchmark Tel-Bond 20 Index rose 0.2%.
In the foreign currency market, the shekel-dollar representative exchange rate fell 1.14% to NIS 3.39/$, and the shekel-euro representative exchange rate fell 0.59% to NIS 4.9016/€.
In the stock market, the oil and gas exploration industry stood out, with the Oil and Gas Index up 1.6%. Yesterday, "Globes" reported that the Tamar partners agreed to lower the price of gas in talks on a $20 billion contract with Israel Electric Corporation (IEC) (TASE: ELEC.B22). Tamar partner Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) rose 5.8% today, for the biggest gain among Tel Aviv 25 shares. Its partner Avner Oil and Gas LP (TASE: AVNR.L) rose 0.6% and Delek Drilling LP (TASE: DEDR.L) rose 0.1%, while their parent company, Delek Group Ltd. (TASE: DLEKG), rose 2.9%.
Israel Discount Bank (TASE: DSCT) rose another 1.3%, after signing a new salary agreement with its employees yesterday. Bank Leumi (TASE: LUMI) rose 0.5%, but Bank Hapoalim (TASE: POLI) fell 0.5%.
Israel Chemicals Ltd. (TASE: ICL) rose 2.2% on the day's largest turnover of NIS 134 million, and its parent, Israel Corporation (TASE: ILCO) rose 5.4%. Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) rose 0.1% on the day's second largest turnover, after securing a $4 billion loan to financing its acquisition of Cephalon Inc. (Nasdaq: CEPH).
Elco Holdings Ltd. (TASE: ELCO) rose 4.4%. Earlier this week, Psagot Investment House Ltd. reiterated its "Outperform" recommendation for the share, saying that the shares of Elco and its subsidiaries were suffering from weakness.
Africa-Israel Investments Ltd. (TASE:AFIL) contracting arm Danya Cebus Ltd. (TASE: DNYA) rose 4.2% after completing the sale of 75% Road 431 franchisee Netivei Hayovel Ltd. Africa-Israel rose 1.1%. Small-cap Summit Real Estate Holdings Ltd. (TASE: SMT) rose 11.8% after announcing talks to sell a subsidiary.
Published by Globes [online], Israel business news - www.globes-online.com - on June 14, 2011
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