Wed: Telecoms stocks strong

Stock indices on the Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index closed 0.13% down, at 1,307.31 points; the Tel Aviv 100 Index closed 0.26% down, at 1,185.48 points; and the BlueTech Index closed 0.97% down, at 329.74 points. Turnover totaled NIS 952 million. In bonds, the TelBond 20 Index closed 0.19% up, at 312.73 points.

In the foreign exchange market, the representative shekel-dollar rate was set 0.085% lower than yesterday's rate, at NIS 3.5310/$, while the shekel-euro rate was set 0.131% higher, at NIS 4.7399/�.

Today's weakness on the TASE was in line with the trend in Europe.

Among stocks attracting interest today were Israel Chemicals, which reported a halving of its third quarter profit this morning. Its stock price fell 3.02%. Telecommunications stocks were firm. Bezeq was the day's most heavily traded stock, rising 1.94%, while Partner rose 2.49%, despite a downgrade from Goldman Sachs, and Cellcom rose 4.55%. Teva rose 0.90%. Troubled Babylon, which is making layoffs after the collapse of its business with Google, fell 4.03%. El Al, which reported a strong third quarter today, fell 3.25%.

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

Wed: Telecoms stocks strong

The TASE fell today, but there were decent rises for Bezeq, the day's most heavily traded stock, Cellcom, and Partner.