Thu: Tower, Gilat jump

The Tel Aviv 25 Index closed slightly weaker today, after falling steeply towards the close. Gilat Satellite and Tower Semiconductor stood out in a strong technology sector.

Stocks were mixed on the Tel Aviv Stock Exchange today. The Tel Aviv 25 Index closed down 0.15%, at 1,323.04 points; the Tel Aviv 100 Index closed up 0.02%, at 1,195.46 points; and the BlueTech 50 Index closed up 0.90%, at 331.75 points. Turnover totaled NIS 1.43 billion. The Tel Aviv 25 Index fell 0.3% over the week.

In bonds, the TelBond 20 Index fell 0.21%, to 313.46 points.

In the foreign exchange market, the shekel-dollar representative rate was set 0.25% higher, at NIS 3.5148/$, and the shekel-euro rate was set 0.245% lower, at NIS 4.8075/€.

This morning, the TASE signed an agreement with European derivatives market Eurex under which futures contracts on the Tel Aviv 25 Index will be traded on Eurex in the first half of 2014.

After being firmly in positive territory for most of today's session, the main indices dipped sharply towards the close. The most heavily traded stocks were Migdal, which rose 2.345%, Bank Hapoalim, which rose 0.47%, Bank Leumi, which fell 0.65%, Teva, which was flat, and Israel Chemicals, which fell 0.95%.

In energy stocks, Avner was a notable decliner, falling 3.05%.

The technology sector saw some impressive rises today. Tower Semiconductor jumped 8.76%. It reported an extended credit line from Wells Fargo. Gilat rose 5.99% after announcing a large contract in Colombia. Spacecom rose 5.49%, and Mazor 5.05%. Can-Fite BioPharma rose 6.31%, after announcing that the US Patent Office had granted it a patent protecting its findings relating to the utilization of the A3 Adenosine Receptor as a biomarker to predict patients' response to CF101 in autoimmune inflammatory indications.

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

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

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