Stock indices on the Tel Aviv Stock Exchange (TASE) were mixed today. The Tel Aviv 25 Index rose 0.20%, to 1,202.81 points; the Tel Aviv 100 Index fell 0.27%, to 1,094.62 points; and the BlueTech 50 Index fell 0.28%, to 318.27 points. Turnover totaled NIS 1.57 billion. In bonds, the TelBond 20 Index rose 0.20%, to 306.44 points.

On the foreign exchange market, the Bank of Israel set the shekel-dollar representative rate 0.028% lower than yesterday, at NIS 3.564/$, and the shekel-euro rate 0.252% higher, at NIS 4.7379/€.

Exchange traded fund portfolios has their quarterly update today, which led to volatility in the pre-close stage of trading, which was longer than usual, and also led to higher turnover than of late.

The Ministry of Finance continues to intervene in the bond market. The Accountant General's department carried out two hedging transactions for Israel's foreign currency-denominated debt yesterday, totaling $125 million, with the aim of reducing exposure to exchange rate fluctuations, by swapping dollar-denominated debt for shekel-denominated debt.

Bank stocks continued to rise today. Outstanding were Discount Bank, up 2.16%, and Bank Hapoalim, up 1.29%.

Israel Chemicals, of the Israel Corp. group, continues to be traded against a background of a possible change in ownership of Russian potash fertilizer company Uralkali, the world's second largest potash producer, with possible consequences for the continuation of the potash cartel. Israel Chemicals rose 2.03% today.

EZchip was the most notable decliner, shedding 20.17% of its value, apparently because of fears of the effect on it of a new product announced by Cisco, one of its most important customers, yesterday.

Published by Globes [online], Israel business news - www.globes-online.com - on September 12, 2013

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