Tue: Delek fall fails to fluster flat market

Israel Chemicals rose after completing the acquisition of a Mexican company and parent company Israel Corp. also gained ground.

The Tel Aviv Stock Exchange (TASE) was flat today. The Tel Aviv 25 Index fell 0.06% to 1,248.63 points, the Tel Aviv 100 Index fell 0.09% to 1,138.60 points, and the TechBlue 50 Index rose 0.04% to 282.89 points. Turnover was NIS 1.07 billion.

The TASE again trod water today. Wall Street future contracts were mixed ahead of the reopening of the New York exchanges after Independence Day.

In the foreign currency market, the shekel-dollar representative exchange rate rose 0.65% to NIS 3.411/$, and the shekel-euro representative exchange rate rose 0.42% to NIS 4.94/€.

In the bond market, both long-term Shahar bonds and long- term Galil CPI-linked bonds rose by up to 0.2% and 0.4% respectively. The corporate bond benchmark Tel-Bond 20 Index rose 0.1%.

In the energy exploration sector of Delek Group Ltd. (TASE: DLEKG) fell 1.5% and its energy exploration units Delek Drilling LP (TASE: DEDR.L) and Avner Oil and Gas LP (TASE: AVNR.L) fell 1.6% and 2.5% respectively.

Israel Chemicals Ltd. (TASE: ICL) rose 2.1% after completing the acquisition of Mexican company Cosmocel Quimica, while parent company Israel Corporation (TASE: ILCO) rose 1%.

Energy exploration company Ratio Oil Exploration (1992) LP (TASE:RATI.L) rose 1.2% on the day's largest trading volume.

Outside the Tel aviv 25, Delek Automotive Systems Ltd. (TASE: DLEA) fell 3.9% after yesterday's disappointing figures on new car deliveries.

Elbit Imaging Ltd. (Nasdaq: EMITF; TASE: EMIT) rose 4.8% after yesterday's strong rise as it still enjoyed a boost from "Globes" report about negotiations to sell an Indian asset.

Given Imaging Ltd. (Nasdaq: GIVN; TASE: GIVN) was down 0.4% today despite a target price from Harel 18% above its close yesterday.

Communications equipment maker Radvision Ltd. (Nasdaq: RVSN; TASE: RVSN) lost 7.7% after publishing its second profit warning this year.

Back in the energy exploration sector Myra and Sarah gas exploration licensees rebounded. Israel Land Development Company Energy Ltd. (TASE: IE) was up 18.4% and parent company Israel Land Development Company (TASE: ILDC) rose 3.8%. Modiin Energy LP (TASE:MDIN.L) rose 8.9%.

Published by Globes, Israel business news - www.globes-online.com - on July 5, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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