Sun: Mellanox leads market gains

Mellanox pulled back some of its recent losses, but high-tech peer NICE Systems lost ground.

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.90% to 1,148.54 points, the Tel Aviv 100 Index rose 0.99% to 1,026.94 points, and the BlueTech 50 Index rose 0.63% to 342.58 points. Turnover was NIS 625.9 million.

The TASE rose today, despite mixed sessions in European markets and on Wall Street on Friday.

In the bond market, long-term Shahar unlinked government bonds rose by up to 0.1%, and long-term Galil CPI-linked government bonds rose by up to 0.4%. The benchmark corporate bond Tel-Bond 20 Index rose 0.67%.

In the foreign currency market, options pointed to a 0.05% gain in the shekel-dollar exchange rate, compared with Friday's representative rate to NIS 3.889/$, and a 0.03% dip in the shekel-euro exchange rate to NIS 5.063/€.

In the stock market, Mellanox Technologies Ltd. (Nasdaq:MLNX; TASE:MLNX) rose 4.5% on a positive arbitrage gap, for the biggest gain among Tel Aviv 25 shares. Its high-tech peer NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) fell 2.3% for the biggest loss among Tel Aviv 25 shares.

Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) rose 3.2%, Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) rose 4.3%, and Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) rose 2.6%.

Bank Hapoalim (TASE: POLI) rose 3.1% on the day's biggest turnover of NIS 42 million, and Bank Leumi (TASE: LUMI) rose 2.6%.

IDB Holding Corp. Ltd. (TASE:IDBH) rose 3.7% and its bonds rose by up to 10.5%, after chairman Nochi Dankner announced an investment by Eduardo Elsztain in IDB's parent company Ganden Holdings Ltd.

On the Tel Aviv 100 Index, Menorah Mivtachim Holdings Ltd. (TASE: MORA) rose 7.5% and Harel Insurance Investments and Financial Services Ltd. (TASE: HARL) rose 5.1%.

Clal Biotechnology Industries Ltd. (TASE: CBI) rose 18.7% and its parent company Clal Industries and Investments Ltd. (TASE: CII) rose 11.6%, after the European Medicines Agency (EMA) recommended approval of third degree burn treatment NexoBrid, developed by Clal Biotech portfolio company MediWound Ltd.

Alvarion Ltd. (Nasdaq: ALVR; TASE: ALVR) rose 19.3%, after rising 14.7% on Nasdaq on Friday and another 6% in after-hours trading on rumors of an investment in the company.

Published by Globes [online], Israel business news - www.globes-online.com - on September 23, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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