Wed: Israel Corp pulls market down

Israel Corp fell hard, while gas exploration companies Avner and Delek Drilling also lost ground.

The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 0.22% to 1,239.79 points, the Tel Aviv 100 Index fell 0.06% to 1,103.59 points, and the BlueTech 50 Index fell 0.28% to 303.26 points. Turnover was NIS 874.6 million.

The TASE fell today, in line with losses on European markets and at the opening on Wall Street.

The TASE reported today that average daily turnover was NIS 1.2 billion in March and NIS 1.1 billion in the first quarter.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.618/$, down 0.6% compared with yesterday's rate, and an 18-month low, and set the shekel-euro representative exchange rate at NIS 4.639/€, down 0.20%

In the bond market, long-term Shahar unlinked shekel government bonds were unchanged and long term Galil CPI-linked government ranged between losses of 0.1% and gains of 0.1%. The corporate bond benchmark Tel-Bond 20 Index rose 0.17%

In the stock market, Israel Chemicals Ltd. (TASE: ICL) rose 0.7% on the day's biggest turnover of NIS 66.3 million. Sister company Oil Refineries Ltd. (TASE:ORL) rose 1.8% for the biggest gain among Tel Aviv 25 shares. Their parent company, Israel Corporation (TASE: ILCO), fell 2.5% on investor concerns about its wholly-owned subsidiary Zim Integrated Shipping Services Ltd., which could require a new debt settlement.

Tamar and Leviathan partners Avner Oil and Gas LP (TASE: AVNR.L) fell 2.9%, for the biggest loss among Tel Aviv 25 shares, and Delek Drilling LP (TASE: DEDR.L) fell 1.7%. Their parent company Delek Group Ltd. (TASE: DLEKG) fell 0.6%.

On the Tel Aviv 100 Index, First International Bank of Israel (TASE: FTIN) fell 2.4%, after parent company FIBI Holdings Ltd. (TASE: FIBI) sold 5.2% of the bank. FIBI fell 0.5%.

Mazor Robotics Ltd. (TASE:MZOR) fell 8.8%, and Brainsway Ltd. (TASE:BRIN) fell 8.1%, after double-digit gains yesterday. Hadasit Bio Holdings Ltd. (TASE:HDST; Bulletin Board: HADSY) rose 36.6%, after portfolio company Enlivex Therapeutics Ltd. obtained US Food and Drug Administration (FDA) orphan drug status for its treatment for graft-versus-host disease.

SDS - Star Defense Systems Ltd. (TASE:SDS) fell another 48.6% today, after losing 16% yesterday, following the publication of its financials.

Published by Globes [online], Israel business news - www.globes-online.com - on April 3, 2013

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

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