Sun: Tamar Partners lead market rise

Delek Group and Isramco led the market up after the Tamar production platform was completed but Teva fell again on the day's biggest turnover.

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.22% to 1,184.12 points, the Tel Aviv 100 Index rose 0.17% to 1,048.18 points, and the BlueTech 50 Index rose 1.46% to 310.44 points. Turnover was NIS 868.3 million.

The TASE rose today, despite losses on European markets and on Wall Street on Friday.

In the foreign currency market, options pointed to a 0.04% dip in the shekel-dollar exchange rate, compared with Friday's representative rate, to NIS 3.727/$, and a 0.11% drop in the shekel-euro exchange rate to NIS 4.913/€.

In the bond market, long-term Shahar unlinked shekel government bonds rose by up to 0.1%, and long term Galil CPI-linked government ranged between losses of 0.1% and gains of 0.2%. The corporate bond benchmark Tel-Bond 20 Index rose 0.08%.

In the stock market, Oil Refineries Ltd. (TASE:ORL) rose 3.5%, for the biggest gain among Tel Aviv 25 shares. Tamar partners Delek Group Ltd. (TASE: DLEKG) and Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) rose 2.1% and 0.3%, respectively, after announcing the inauguration of the Tamar production platform.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 0.3% on the day's biggest turnover of NIS 71.7 million.

Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) fell 1.2% for the biggest loss among Tel Aviv 25 shares, but its mobile peer on the index, Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR), rose 1.7%.

On the Tel Aviv 100 Index, IDB Holding Corp. Ltd. (TASE:IDBH) unit Property and Building Ltd. (TASE: PTBL) rose 5%, after "Globes" reported on Thursday that it received an offer from Hyundai for the HSBC New York headquarters, the second offer for the property. Africa-Israel Investments Ltd. (TASE:AFIL) rose 1.7%, after announcing that its Russian development arm, AFI Development plc (LSE:AFID) was in talks to buy a project in Moscow.

Also in real estate, Elco Holdings Ltd. (TASE: ELCO) rose 5.6%, and subsidiaries Electra Ltd. (TASE: ELTR) and Electra Real Estate Ltd. (TASE:ELCRE) rose 4.4% and 3.5%, respectively, after selling properties in Saint Petersburg, Russia, and Chicago, Illinois. Electra's partner in the sale, Pangaea Real Estate Ltd. (TASE:PNGD) rose 17%. Mid-Cap Elbit Imaging Ltd. (Nasdaq: EMITF; TASE: EMIT) fell 9.4%, and its bonds fell by up to 7%, after a downgrade by Standard & Poor's Maalot Ltd.

Harel Insurance Investments and Financial Services Ltd. (TASE: HARL) rose 1.9%, boosting the Insurance Index 0.7%.

Published by Globes [online], Israel business news - www.globes-online.com - on December 30, 2012

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

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