The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 0.97% to 1,122.41 points, the Tel Aviv 100 Index fell 0.87% to 1,017.97 points, and the BlueTech 50 Index fell 0.53% to 278.50 points. Turnover was NIS 1.17 billion.
The TASE fell across the board today, except for the Oil and Gas Index, weighed down by bank shares. European markets fell around 0.5% today, and Wall Street fell at the opening, as worries about Europe's debt crisis linger.
In the bond market, long-term Shahar bonds were unchanged and long term CPI-linked Galil bonds fell by up to 0.2%. The corporate bond benchmark Tel-Bond 20 Index fell 0.26%.
In the foreign currency market, the Bank of Israel set the shekel-dollar represent exchange rate at NIS 3.723/$, up 0.05% on Friday's rate, and set the shekel-euro representative exchange rate at NIS 5.08/€, down 0.03%.
In the stock market, bank shares performed poorly as Bank Leumi (TASE: LUMI) and First International Bank of Israel (TASE: FTIN) published profit warnings for the third quarter in the morning, followed by Israel Discount Bank (TASE: DSCT) near the closing. Bank Leumi fell 3%, Discount Bank fell 2.3%, and First International Bank fell 1.1%.
Bank Hapoalim (TASE: POLI) and Mizrahi Tefahot Bank (TASE:MZTF), which did not publish any profit warnings did not escape the news from their peers. Hapoalim fell 3.8%, for the biggest loss among Tel Aviv 25 shares, and Mizrahi Bank fell 1.7%. The Banking Index fell 3%.
The gas exploration sector again bubbled today. Tamar partner Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) rose 3.7% for the biggest gain among Tel Aviv 25 shares. Its Tamar partners Avner Oil and Gas LP (TASE: AVNR.L) rose 2.7% and Delek Drilling LP (TASE: DEDR.L) rose 2.3%, while their parent company, Delek Group Ltd. (TASE: DLEKG), rose 0.6%. Delek's Leviathan partner Ratio Oil Exploration (1992) LP (TASE:RATI.L) rose 1.8% on the day's largest turnover of NIS 86 million.
Also in the sector, Modiin Energy LP (TASE:MDIN.L) fell 2% and Israel Land Development Company Energy Ltd. (TASE: IE) fell 1.4%, after closing the sale of part of its Myra and Sarah licenses to Modiin.
Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) fell 1.1% two days before it will publish its third quarter financials. Migdal Capital Market believes that the electronics defense company will report higher sales, but lower profits.
Mobile carrier Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) fell 2% ahead of the publication of its financials tomorrow. Orange franchisee Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) fell 1.4%, after Psagot Investment House Ltd. gave the company a "Sell" recommendation.
Prolor Biotech Inc. (AMEX: PBTH; TASE: PBTH) fell 5.5%, correcting from yesterday's 16% gain.
Published by Globes [online], Israel business news - www.globes-online.com - on November 14, 2011
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