Sun: Banks power TASE to new record

Bank Leumi posted the biggest gain on the Tel Aviv 25 Index, while Teva rose on the day's highest turnover.

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.60% to 1,352.96 points, the Tel Aviv 100 Index rose 0.62% to 1,220.36 points, but the BlueTech 50 Index fell 0.09% to 326.25 points. Turnover was NIS 764.6 million.

The TASE rose to a new record today, in line with gains on Wall Street on Friday.

In the foreign currency market, options pointed to a 0.06% drop in the shekel-dollar exchange rate, compared with Friday's representative rate, to NIS 3.557/$, but to a 0.50% gain in the shekel-euro exchange rate to NIS 4.827/€.

In the bond market, long-term Shahar unlinked shekel government bonds and long term Galil CPI-linked government rose. The corporate bond benchmark Tel-Bond 20 Index rose 0.12%.

In the stock market, Bank Leumi (TASE: LUMI) rose 2.2% for the biggest gain among Tel Aviv 25 shares, and Bank Hapoalim (TASE: POLI) rose 1.2%. Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) rose 1.1% on the day's biggest turnover of NIS 34.9 million. Opko Health Inc. (NYSE: OPK; TASE: OPK) corrected downward 7% from Thursday's 11.8% jump, for the biggest loss among Tel Aviv 25 shares.

Osem Investments Ltd. (TASE: OSEM) fell 1.2%, after publishing its financials. Its food company peer on the index, Strauss Group Ltd. (TASE:STRS), rose 0.7%.

On the Tel Aviv 100 Index, Evogene Ltd. (NYSE: EVGN; TASE:EVGN) rose 10.1%, after the underwriters in its NYSE offering exercised all their over-allotment options.

Elsewhere in the market, Camtek Ltd. (Nasdaq: CAMT; TASE:CAMT) rose 27.9%, after denying rumors that it was an acquisition target.

Published by Globes [online], Israel business news - www.globes-online.com - on November 24, 2013

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

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