The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.98% to 1,204.65 points, the Tel Aviv 100 Index rose 0.90% to 1,070.17 points, but the BlueTech 50 Index fell 0.69% to 314.85 points. Turnover was NIS 1.14 billion.
The leading TASE indices rose today, the day after the Knesset elections, and despite a mixed session on European markets and in line with gains at the opening on Wall Street.
Meitav Investment House Ltd. chief strategist Ron Eichal said, "We believe that the likely coalition structure with the inclusion of Yair Lapid's Yesh Atid and the weakness of Shas indicates to the markets that the commitment to fiscal credibility has increased. We believe that this was one of the reasons for today's higher share prices."
In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate, at NIS 3.722/$, down 0.43% on Monday's rate, and set the the shekel-euro representative exchange rate at NIS 4.965/€, down 0.24%.
In the bond market, long-term Shahar unlinked shekel government bonds were unchanged and long term Galil CPI-linked government bonds ranged between losses of 0.1% and gains of 0.2%. The corporate bond benchmark Tel-Bond 20 Index fell 0.08%.
In the stock market, Israel Chemicals Ltd. (TASE: ICL) rose 4.2% for the biggest gain among Tel Aviv 25 shares on the day's biggest turnover of NIS 145 million. Parent company Israel Corporation (TASE: ILCO) rose 4%.
Banks rose strongly, led by a 3.3% gain by Israel Discount Bank (TASE: DSCT). Bank Leumi (TASE: LUMI) rose 2.1% and Bank Hapoalim (TASE: POLI) rose 1.9%.
Mellanox Technologies Ltd. (Nasdaq:MLNX; TASE:MLNX) fell 2.7% for the biggest loss among Tel Aviv 25 shares, ahead of the publication of its 2012 fourth quarter and full-year financials.
Tamar partners rose today, with Delek Group Ltd. (TASE: DLEKG) up 2.5%, its subsidiaries Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) both up 1.5%, and its partner Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) up 0.6%.
On the Tel Aviv 100 Index, Ormat Industries Ltd. (TASE: ORMT) fell 6.2%, after announcing a $140-150 million write-off on US geothermal plants.
Among small-cap shares, Enlight Renewable Energy Solutions Ltd. (TASE:ENLT) rose another 10%, bringing its rise since the beginning of the year to 130%, InsuLine Medical Ltd. (TASE: INSL) rose 12%, and Modiin Energy LP (TASE:MDIN.L) rose 22% on reports of talks to sell 10% of the Gabriella license to Israel Opportunity Energy Resources LP (TASE: ISOP.L), which rose 4.4%.
Small-cap real estate company Elbit Imaging Ltd. (Nasdaq: EMITF; TASE: EMIT) rose 3.6%, and its bonds rose by up to 16% following a large purchase of bonds by York Capital Management.
Published by Globes [online], Israel business news - www.globes-online.com - on January 23, 2013
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