The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 2.40% to 1,168.52 points, the Tel Aviv 100 Index rose 2.33% to 1,055.71 points, and the BlueTech 50 Index rose 2.22% to 278.58 points. Turnover was NIS 3.53 billion.
The TASE rose strongly across the board today, in line with global markets, after the EU summit approved a €1 trillion rescue package for the eurozone debt crisis. The Tel Aviv 25 Index rose 4.1% for the week, after rising 3.5% last week.
Union Bank nonetheless cautioned, "Uncertainty and volatility are high, and are likely to continue so in the short and medium term."
Tel Aviv 25 options for October expired this morning, with a gain of 2.9%.
In the bond market, long-term Shahar unlinked government bonds fell by up to 0.1% and long-term Galil CPI-linked bonds ranged between losses of 0.1% and gains of 0.1%. The corporate bond benchmark Tel-Bond 20 Index rose 0.36%.
In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.62, down 0.82% from yesterday, and set the shekel-euro representative exchange rate at NIS 5.103/€, up 0.41%.
In the stock market, Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) rose 4.8% for the biggest gain among Tel Aviv 25 shares, after falling 1.1% yesterday.
IDB Holding Corp. Ltd. (TASE:IDBH) unit Discount Investment Corporation (TASE: DISI) rose 4% and Delek Group Ltd. (TASE: DLEKG) rose 4.2%.
Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) also stood out with a gain of 3.5% to NIS 0.439. Clal Finance today raised its recommendation for the Tamar partner to "Buy" with a target price of NIS 0.53.
Bank shares stood out, with Bank Hapoalim (TASE: POLI) up 4.6% and Bank Leumi (TASE: LUMI) up 4%. The Banking Index rose 3.9%.
NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) rose 3.3%. Psagot Investment House Ltd. predicts that the company will publish good third quarter financials next week. Mellanox Technologies Ltd. (Nasdaq:MLNX; TASE:MLNX) fell 3.4%, despite publishing a strong financial report. Alvarion Ltd. (Nasdaq: ALVR; TASE: ALVR) rose another 8.4% today, on top of yesterday's 8.9% gain.
Perrigo Company (Nasdaq:PRGO; TASE:PRGO) fell 4.6%, the only Tel Aviv 25 share to lose ground today, on the day's largest turnover of NIS 301 million, after publishing its financial report for its first fiscal quarter for 2012. The company missed the analysts' forecasts with $725.3 million revenue, and its net profit fell 4.3% to $70.5 million.
Elbit Imaging Ltd. (Nasdaq: EMITF; TASE: EMIT) rose another 12.9% today, after rising 51% in the previous three days.
Published by Globes [online], Israel business news - www.globes-online.com - on October 27, 2011
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