Sun: Opko Health recovery boosts market

Opko Health and Oil Refineries clawed back some of their recent losses while Tower Semiconductor soared on news of its Panasonic joint venture.

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 1.23% to 1,339.28 points, the Tel Aviv 100 Index rose 1.1% to 1,208.61 points, and the BlueTech 50 Index rose 2.09% to 338.67 points. Turnover was NIS 826.7 million.

The TASE rose today, in line with gains on European markets and on Wall Street on Friday. The Tel Aviv 25 Index fell 0.3% last week despite rallying towards the end of the week.

In the foreign currency market, options point to a strengthening of the shekel with a 0.58% drop in the shekel-dollar exchange rate, compared with Friday's representative rate, to NIS 3.498/$, and to a 0.03% drop in the shekel-euro exchange rate NIS 4.795/€.

In the bond market, long-term Shahar unlinked shekel government bonds and long term Galil CPI-linked government bonds rose 0.5% and 0.6% respectively. The corporate bond benchmark Tel-Bond 20 Index rose 0.10%.

In the stock market, Opko Health Inc. (NYSE: OPK; TASE: OPK) led the gains rising 5.4%. Oil Refineries Ltd. (TASE:ORL) also continued recovering losses rising 2.8% on the day's largest trading turnover.

Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) rose 1.3% after signing a follow-on contract in Australia.

On the Tel Aviv 100, Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE: TSEM) rose 39.9% after announcing a joint venture with Panasonic, boosting the BlueTech 50 to strong gains.

Published by Globes [online], Israel business news - www.globes-online.com - on December 22, 2013

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

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