The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.87% to 1,202.49 points, the Tel Aviv 100 Index rose 1.03% to 1,065.62 points, and the BlueTech 50 Index rose 1.29% to 323.94 points. Turnover was NIS 1.08 billion.
The TASE rebounded today across the board in line with gains on European markets and at the opening on Wall Street.
In the bond market, long-term Shahar unlinked shekel government bonds were unchanged and long-term Galil CPI-linked government bonds fell by up to 0.1%. The benchmark corporate bond Tel-Bond 20 Index rose 0.13%.
In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.855/$, up 0.65% on yesterday's rate, and set the shekel-euro representative exchange rate at NIS 4.995/€, up 0.24%.
In the stock market, telcos continued their slide today, led by a 2.8% drop by Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR), for the biggest drop among Tel Aviv 25 shares, with Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) down 1.7% and Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) down 1.8%.
Technology stocks corrected upwards, with Mellanox Technologies Ltd. (Nasdaq:MLNX; TASE:MLNX) up 2.1% on the day's biggest turnover of NIS 92 million, and EZchip Semiconductor Ltd. (Nasdaq: EZCH; TASE:EZCH) up 4.2%, for the biggest gain among Tel Aviv 25 shares.
Banks also rebounded, with Israel Discount Bank (TASE: DSCT) up 3.3%, Bank Leumi (TASE: LUMI) up 3.2%, and Bank Hapoalim (TASE: POLI) up 1.4%.
Leviathan partners corrected downward today, with Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) down 1.2% and 1.5%, respectively, while their parent company Delek Group Ltd. (TASE: DLEKG) fell 2.6%, and their partner Ratio Oil Exploration (1992) LP (TASE:RATI.L) x%.
The Tel Aviv 25's two real estate companies, Azrieli Group Ltd. (TASE: AZRG) and Gazit-Globe Ltd. (NYSE: GZT; TASE: GLOB) rose 0.2% and 0.9%, respectively, after Clal Finance said in a review on the sector, "Despite concerns, the sector is attractive", and gave Azrieli an "Outperform" recommendation.
Elsewhere in the market, IDB Holding Corp. Ltd. (TASE:IDBH) jumped 13.7% and its bonds rose by 13.2%, after announcing that it may receive a loan from a foreign financial institution as part of a possible merger of subsidiary Discount Investment Corporation (TASE: DISI) with its subsidiary Koor Industries Ltd. (TASE:KOR). Discount Investment rose 6.2% and Koor rose 14.1%.
Sarah licensees Israel Land Development Company Energy Ltd. (TASE: IE) and Modiin Energy LP (TASE:MDIN.L) rose 4.1% and 15.9%, respectively, clawing back part of their free fall after announcing that the Sarah well was a dry hole. Small-Cap EZ Energy Ltd. (TASE:EZ) rose 16.1%, after redeeming its entire NIS 102 million bond debt today, following the sale of its US gas stations and convenience store business to 7-Eleven for $62.3 million.
Pluristem Therapeutics Ltd. (Nasdaq:PSTI; DAX: PJT: PLTR) rose 6.4% today, after falling 6% yesterday.
Published by Globes [online], Israel business news - www.globes-online.com - on October 24, 2012
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