Mon: Mellanox claws back more losses as market rises

Mellanox enjoyed the biggest gain on the Tel Aviv 25 Index, while telcos and energy exploration companies were the biggest losers.

28 January 13 17:16, Aviv Levy

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.30% to 1,197.34 points, the Tel Aviv 100 Index rose 0.40% to 1,066.18 points, and the BlueTech 50 Index rose 0.64% to 315.05 points. Turnover was NIS 993.2 million.

The TASE rose today, in line gains on European markets and in early trading on Wall Street.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.732/$, up 0.49% compared with Friday's representative rate, and set the shekel-euro representative exchange rate at NIS 5.012/€, up 0.44%.

In the bond market, long-term Shahar unlinked shekel government bonds were unchanged and long term Galil CPI-linked government fell by up to 0.1%. The corporate bond benchmark Tel-Bond 20 Index fell 0.05%.

In the stock market, Mellanox Technologies Ltd. (Nasdaq:MLNX; TASE:MLNX) rose another 2.5% today, for the biggest gain among Tel Aviv 25 shares.

Perrigo Company (Nasdaq:PRGO; TASE:PRGO) rose 0.4%. Ahead of the publication of generic drug company's financials, Clal Finance said today, "After an unflattering period of gaps between planning and performance, Perrigo risks another drop if it publishes mediocre quarterly results."

Israel Chemicals Ltd. (TASE: ICL) rose 0.5% on the day's biggest turnover of NIS 109 million.

Telcos and energy exploration companies were today's biggest losers. Mobile carriers Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) and Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) fell 1.2% and 2.3%, respectively, and Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) fell 1.6%. Delek Group Ltd. (TASE: DLEKG) rose 0.7%, but its units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) fell 2.1% and 2.4%, respectively. Their Tamar partner Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) fell 1.6%.

Elsewhere in the market, Elron Electronic Industries Ltd. (TASE: ELRN) rose 7.1% and BiolineRX Ltd. (Nasdaq: BLRX); TASE:BLRX) rose 5.1%, boosting the Biomed Index 1.2%.

Babylon Ltd. (TASE:BBYL) rose 10.5%, after announcing that it was bringing forward the publication of its fourth quarter and full year 2012 financials. Orbit Technologies Ltd. (TASE:ORBI) rose 11.1%, after announcing a NIS 11 million contract with a Far Eastern government.

Small cap exploration and mining company Shefa Yamim Ltd. (TASE: SEFA) rose 25.8%, to gain 60% in two days, after announcing that it found a sapphire.

Published by Globes [online], Israel business news - www.globes-online.com - on January 28, 2013

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