The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 0.83% to 1,193.16 points, the Tel Aviv 100 Index fell 0.83% to 1,067.55 points, and the BlueTech 50 Index fell 1.20% to 294.65 points. Turnover was NIS 678.5 million.
The TASE fell sharply across the board today, despite gains on European markets and on Wall Street on Friday.
In the foreign currency market, options pointed to a 0.52% gain in the shekel-dollar exchange rate, compared with Friday's representative rate, to NIS 3.676/$, and to a 0.30% gain in the shekel-euro exchange rate to NIS 4.651/€.
In the bond market, long-term Shahar unlinked shekel government fell by up to 0.6%, and long term Galil CPI-linked government fell by up to 0.7%. The corporate bond benchmark Tel-Bond 20 Index fell 0.38%.
In the stock market, Oil Refineries Ltd. (TASE:ORL) fell another 6.3%, for the biggest loss among Tel Aviv 25 shares, following Thursday's 5.8% drop, on investors' worries about the effect of falling refining margins on the company's second quarter financials. Its peer on the index, Paz Oil Company Ltd. (TASE:PZOL) fell 1.4%.
The drop in Oil Refineries dragged down its parent companies, Israel Corporation (TASE: ILCO) and Israel Petrochemical Enterprises Ltd. (TASE:PTCH), by 5.3% and 4.9%. Israel Corp's other subsidiary on the Tel Aviv 25 Index, Israel Chemicals Ltd. (TASE: ICL) fell 3.6% on the day's biggest turnover of NIS 83 million.
Perrigo Company (Nasdaq:PRGO; TASE:PRGO) bucked the market with a 1.9% gain, the biggest rise among Tel Aviv 25 shares, and Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) rose 0.5%.
Mobile carriers Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) and Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) fell 2.1% and 2.3%, ahead of the publication of their financials. Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) fell 0.7%.
On the Tel Aviv 100 Index, LivePerson Inc. (Nasdaq: LPSN); TASE: LPSN) fell another 15.5% on a negative arbitrage gap, after publishing its financials last Thursday. Electra Ltd. (TASE: ELTR) fell 0.1%. Psagot Investment House Ltd. today predicted that the company will publish a favorable financial report.
Fashion designer and retailer Golf & Co. (TASE:GOLF) rose 7%, after publishing strong financials and announcing a NIS 40 million dividend.
Published by Globes [online], Israel business news - www.globes-online.com - on May 12, 2013
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