Tue: Mellanox still falling hard

Mellanox fell sharply on the day's largest turnover, but the Leviathan partners bucked the market.

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index fell 1.28% to 1,192.07 points, the Tel Aviv 100 Index fell 1.39% to 1,054.71 points, and the BlueTech 50 Index fell 1.94% to 319.81 points. Turnover was NIS 1.04 billion.

The TASE fell today across the board, except for the Oil and Gas Index, in line with losses on European markets and at the opening on Wall Street.

In the bond market, long-term Shahar unlinked government bonds were unchanged, and long-term Galil CPI-linked government bonds ranged between losses of 0.1% and gains of 0.2%. The benchmark corporate bond Tel-Bond 20 Index rose 0.11%.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.83/$, up 0.37% on yesterday's rate, and set the shekel-euro representative exchange rate at NIS 4.983/€, down 0.05%.

In the stock market, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 0.7%, despite publishing two favorable reports about brand drugs.

Leviathan partners continued to rise, bucking the market today. Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) rose 2.1% and 1%, respectively, but their parent company, Delek Group Ltd. (TASE: DLEKG), fell 0.1%. Their Leviathan partner Ratio Oil Exploration (1992) LP (TASE:RATI.L) rose 2.4%.

Sarah partners Israel Land Development Company Energy Ltd. (TASE: IE) and Modiin Energy LP (TASE:MDIN.L), both on the Tel Aviv 100 Index, fell a further 7.5% and 6.8%, respectively, after announcing on Sunday that the Sarah well was a dry hole.

Mellanox Technologies Ltd. (Nasdaq:MLNX; TASE:MLNX) fell another 5.9%, for the biggest loss among Tel Aviv 25 shares, on the day's biggest turnover of NIS 90 million. Its high-tech peers on the index, EZchip Semiconductor Ltd. (Nasdaq: EZCH; TASE:EZCH) and NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) both fell 0.7%.

Telcos also fell hard, with Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) down 5.6%, Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) down 4%, and Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) down 3.6%.

In real estate, Gazit-Globe Ltd. (NYSE: GZT; TASE: GLOB) fell 0.5%, after announcing that US subsidiary Equity One Inc. (NYSE: EQY) agreed to sell $300 million worth of unsecured bonds.

On the Tel Aviv 100 Index, Babylon Ltd. (TASE:BBYL) fell 6%, despite publishing strong financials and announcing a new cooperation agreement with Admob Google Inc. Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE: TSEM) fell 3.8%, after raising $25 million in an expansion of its Series F convertible bond.

IDB Holding Corp. Ltd. (TASE:IDBH) fell 7.2% and its bonds ranged between losses of 3.4% and gains of 2.7%.

Small-cap BSP - Biological Signal Processing Ltd. (TASE:BSP) jumped 81% after signing a cooperation agreement with Switzerland's Schiller AG, and Mid-Cap Mazor Robotics Ltd. (TASE:MZOR) fell 0.4%, after announcing its first Vietnamese order.

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

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

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