Wed: Elbit Systems fails to lift flat market

Elbit Systems rose strongly after publishing its financials, while Delek was the biggest loser on the Tel Aviv 25.

The Tel Aviv Stock Exchange (TASE) dipped today. The Tel Aviv 25 Index fell 0.06% to 1,240.06 points, the Tel Aviv 100 Index edged down 0.01% to 1,103.43 points, but the BlueTech 50 Index rose 0.35% to 315.72 points. Turnover was NIS 828.9 million.

The leading TASE indices clawed back sharp losses at the opening to end the session almost back at their starting levels, in line with losses on European markets and a mixed session at the opening on Wall Street.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.693/$, up 0.30% on yesterday's rate, and set the shekel-euro representative exchange rate at NIS 4.792/€, up 0.05%.

In the bond market, long-term Shahar unlinked shekel government bonds were unchanged and long term Galil CPI-linked government bonds fell by up to 0.2%. The corporate bond benchmark Tel-Bond 20 Index fell 0.19%.

In the stock market, Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) rose 3%, on the day's biggest turnover, after publishing its financials. Israel Chemicals Ltd. (TASE: ICL) fell 0.2%, after reporting lower revenue and profits

Delek Group Ltd. (TASE: DLEKG) fell 1.4% for the biggest loss among Tel Aviv 25 shares.

Mellanox Technologies Ltd. (Nasdaq:MLNX; TASE:MLNX) rose another 1.5% today, on the day's biggest turnover of NIS 114 million.

Bank Leumi (TASE: LUMI) fell 1.3% and Bank Hapoalim (TASE: POLI) fell 0.8%.

On the Tel Aviv 100 Index, Frutarom Industries Ltd. (TASE: FRUT; LSE:FRUT; Pink Sheets:FRUTF) fell 2.8%, after publishing record results for 2012, and Perion Networks Inc. (Nasdaq:PERI: TASE:PERI) rose 8.1%, after reporting 65% revenue growth to $61 million and a net profit of $10.3 million

Published by Globes [online], Israel business news - www.globes-online.com - on March 13, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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