Thu: Tel Aviv 25 down 0.6% on week

The banks led today gains with Leumi up 1.2% and Hapoalim up 1%.

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.60% to 1,209.74 points, the Tel Aviv 100 Index rose 0.75% to 1,073.65 points, and the BlueTech 50 Index rose 0.57% to 325.80 points. Turnover was NIS 2.34 billion.

The TASE rose today, in line with gains on European markets and at the opening on Wall Street. Tel Aviv 25 options for October expired today with a drop of 0.2%. The Tel Aviv 25 Index fell 0.6% for the week.

In the bond market, long-term Shahar unlinked government bonds fell by up to 0.1% and long-term Galil CPI-linked fell by up to 0.2% The corporate bond benchmark Tel-Bond 20 Index fell 0.03%.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.858/$, up 0.08% on yesterday's rate and set the shekel-euro representative exchange rate at NIS 5.008/€, up 0.28%.

In the stock market, mobile carriers partly corrected upward today. Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) rose 3.3% for the biggest gain among Tel Aviv 25 shares, while Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) rose 1.3%, but Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) fell another 1.1%. Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) fell 3.3% for the biggest loss among Tel Aviv 25 shares.

Banks continued to gain ground, led by a 2.3% gain by Israel Discount Bank (TASE: DSCT). Bank Hapoalim (TASE: POLI) rose 1% on the day's biggest turnover of NIS 195.7 million, and Bank Leumi (TASE: LUMI) rose 1.2%.

On the Tel Aviv 100 Index, Migdal Insurance and Financial Holdings Ltd. (TASE: MGDL) and Harel Insurance Investments and Financial Services Ltd. (TASE: HARL) led the rally in insurance stocks, with gains of 3.9% and 3.8%, respectively.

IDB Holding Corp. Ltd. (TASE:IDBH) rose another 4.7% today, after publishing a shelf prospectus for a rights issue after the market closed yesterday. Subsidiary Discount Investment Corporation (TASE: DISI) rose 5.7%, and its subsidiary, Koor Industries Ltd. (TASE:KOR), rose 6.6%. IDB Holding bonds rose by up 10.5%.

Sarah licensees rose Israel Land Development Company Energy Ltd. (TASE: IE) and Modiin Energy LP (TASE:MDIN.L) rose another 3.9% and 7.4%, respectively.

Small-cap Hadasit Bio Holdings Ltd. (TASE:HDST; Bulletin Board: HADSY) rose 12.6%, after favorable clinical trial results by a portfolio company.

Delek Automotive Systems Ltd. (TASE: DLEA) rose 1.6%. Leumi Capital Markets predicts that the company will report another disappointing quarter, just like the preceding quarter.

Published by Globes [online], Israel business news - www.globes-online.com - on October 25, 2012

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

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018