The Tel Aviv Stock Exchange (TASE) rose in morning trading as Operation Pillar of Cloud entered its fifth day and the possibility of a ground operation in Gaza. There are worries that Hamas's widening range of rockets may affect the TASE in the coming days, following the launch of missiles against Tel Aviv and Jerusalem.
The Tel Aviv 25 Index rose 0.55% in morning trading to 1,288 points and the Tel Aviv 100 Index rose 0.37% to 1,049 points, after both indices fell on Thursday with the outbreak of the fighting.
"Globes" technical analyst Ziv Segal says, "Although the Tel Aviv 25 Index fell slightly below 1,190 points, the support level I've mentioned in recent weeks, I would not dismiss a rally in view of the circumstances for the drop. The Tel Aviv 25 Index has stayed above its 50-day average. Any movement above 1,190 points will be a very positive sign, and a good buy signal. Any movement below 1,180 points will indicate that the rally is broken and it will be possible to take a neutral position and wait for a new bull market."
Delek Group Ltd. (TASE: DLEKG) rose 2.1% for the biggest gain among Tel Aviv 25 shares in morning trading, followed by a 2% gain by EZchip Semiconductor Ltd. (Nasdaq: EZCH; TASE:EZCH) and a 1.9% gain by Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL).
Mellanox Technologies Ltd. (Nasdaq:MLNX; TASE:MLNX) and Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 1.2% and 0.6%, for the biggest losses on the Tel Aviv 25 Index.
Published by Globes [online], Israel business news - www.globes-online.com - on November 18, 2012
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