Thu: Teva falls following Q1 results

The market was flat asTeva fell after reporting a fall in revenue and profit, and Israel Chemicals corrected upwards.

The Tel Aviv Stock Exchange (TASE) was flat today. The Tel Aviv 25 Index edged up 0.03% to 1,204.83 points, the Tel Aviv 100 Index edged down 0.03% to 1,080.85 points, and the BlueTech 50 Index fell 0.75% to 299.37 points. Turnover was NIS 691.7 million.

The TASE was flat today, despite a mixed session on European markets and gains at the opening on Wall Street. The Tel Aviv 25 Index was unchanged on the week.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.574/$, down 0.36% on yesterday's rate, and set the shekel-euro representative exchange rate at NIS 4.707/€, down 0.51%.

In the bond market, both long-term Shahar unlinked shekel government bonds and long term Galil CPI-linked government rose by up to 0.1%. The corporate bond benchmark Tel-Bond 20 Index rose 0.14%.

In the stock market, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 1%, after publishing its financial report for the first quarter.

Israel Chemicals Ltd. (TASE: ICL) rose 1.9%, for the biggest gain among Tel Aviv 25 shares, on the day's biggest turnover of NIS 64 million. After Israel Chemicals CEO Stefan Borgas met investors in London, Barclays Capital said that the company would change from a minerals company with chemicals operations, into a leading chemicals company with important potash business.

The Oil and Gas Index fell 0.7%, after yesterday's gain, following the positive update about Leviathan's reserves. Ratio Oil Exploration (1992) LP (TASE:RATI.L) corrected downward 2.1%, Avner Oil and Gas LP (TASE: AVNR.L) was unchanged, and Delek Drilling LP (TASE: DEDR.L) fell 0.2%. Small-cap Shemen Oil and Gas Resources Ltd. (TASE: SOG) rose 7.1%>

The Banking Index rose 0.7%, with Bank Hapoalim (TASE: POLI) up 0.7% and Bank Leumi (TASE: LUMI) up 1.4%. On the Tel Aviv 100 Index, the Insurance Index rose 1.5%, led by a 2.4% gain by Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS).

Clal Biotechnology Industries Ltd. (TASE: CBI) rose 3.6% in heavy trading, following a rights issue.

Published by Globes [online], Israel business news - www.globes-online.com - on May 2, 2013

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

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