Tue: Market flat

Teva rose sharply, but failed to lift the market, while Delek and its gas exploration units corrected upwards.

The Tel Aviv Stock Exchange (TASE) was flat today. The Tel Aviv 25 Index edged up 0.09% to 1,335.31 points, but the Tel Aviv 100 Index fell 0.18% to 1,204.56 points, and the TechBlue 50 Index fell 1.31% to 323.56 points. Turnover was NIS 948.5 million.

The TASE was flat today, despite with losses on European markets and at the opening on Wall Street.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.522/$, down 0.06% on yesterday's rate, and set the shekel-euro representative exchange rate at NIS 4.754/€, down 0.14%.

In the bond market, long-term Shahar unlinked shekel government bonds and long term Galil CPI-linked government bonds rose. The corporate bond benchmark Tel-Bond 20 Index fell 0.04%.

In the stock market, Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) rose 1.7%, despite reporting a 65% drop in profits for the third quarter. Its mobile carrier peer on the index, Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) rose 1.6%, but Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) fell 1.7%, for the biggest loss among Tel Aviv 25 shares.

Azrieli Group Ltd. (TASE: AZRG) rose 0.3%, after publishing its financials.

Delek Group Ltd. (TASE: DLEKG) corrected upwards 3% from yesterday's sharp fall, and its gas exploration units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) rose 2.6% and 3.3%, respectively, for the biggest gains among Tel Aviv 25 shares.

Opko Health Inc. (NYSE: OPK; TASE: OPK) fell another 1.5%, but Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) rose 2.4% on the day's biggest turnover of NIS 55.4 million.

On the Tel Aviv 100 Index, Babylon Ltd. (TASE:BBYL) fell 9.1%, and could be relegated from the index.

El Al Israel Airlines Ltd. (TASE: ELAL) rose 1.2%, after announcing a debt issue in the US.

Published by Globes [online], Israel business news - www.globes-online.com - on November 19, 2013

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

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