Wed: IDB soars

The TASE rose today, with IDB Holding up a huge 25%, while leading stocks Teva, Perrigo and Israel Chemicals were also positive, but energy stocks were weak.

Stocks rose on the Tel Aviv Stock Exchange today. The Tel Aviv 25 Index rose 0.38%, to 1,325.08 points; the Tel Aviv 100 Index rose 0.51%, to 1,195.28 points; and the BlueTech 50 Index rose 1.15%, to 328.80 points. Turnover totaled NIS 939 million.

On the foreign exchange market, the Bank of Israel set the shekel-dollar representative rate at NIS 3.5050/$, down 0.171% on yesterday's rate, and set the shekel-euro representative rate at NIS 4.8193/€, down 0.275%.

In corporate bonds, the TelBond 20 Index fell 0.12%, to 313.83 points.

The main story in Tel Aviv today was IDB Holding, which soared 25% after yesterday's court removing control of the company from Nochi Dankner and handing it to Moti Ben-Moshe and Eduardo Elsztain, subject to full disclosure of Ben-Moshe's sources of finance.

Teva rose today, by 0.29%, after announcing that it had reached a settlement with Pfizer over its generic version of impotency treatment Viagra. Teva will be able to market its version in December 2017. Also in the healthcare sector, Perrigo rose 2.29%.

Israel Chemicals announced the acquisition of Hagesud Group, a German producer of spice blends and food ingredients for meat processing. The share rose 0.07% on the day's highest turnover.

Energy exploration stocks were weak today, amid conflicting reports about the amount of oil in the Leviathan field. Delek Drilling fell 0.48%; Avner fell 0.98%; Ratio fell 0.89%; and Isramco fell 0.42%.

Published by Globes [online], Israel business news - www.globes-online.com - on December 18, 2013

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

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