Mon: Israel Corp leads losses

Israel Corp. and Israel Chemicals both fell amid ongoing labor unrest, but Teva bucked the market.

The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 0.29% to 1,319.64 points, the Tel Aviv 100 Index fell 0.10% to 1,207.56 points, but the BlueTech 50 Index edged up 0.03% to 343.73 points. Turnover was NIS 1.45 billion.

The TASE fell today as European markets and the opening on Wall Street were mixed.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.502/$, down 0.06% on Friday's rate, and set the shekel-euro representative exchange rate at NIS 4.768/€, down 0.19%.

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

In the stock market, Delek Group Ltd. (TASE: DLEKG) fell 0.8%, but its energy exploration units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) rose 0.2% and 0.4%, respectively, while Ratio Oil Exploration (1992) LP (TASE:RATI.L) rose 0.4%, on reports that Woodside Petroleum Ltd. (ASX: WPL) was willing to pay more for a smaller stake in the Leviathan natural gas field.

Israel Chemicals Ltd. (TASE: ICL) fell 1.1%, amid continuing labor unrest. Parent company Israel Corporation (TASE: ILCO) fell 1.9% for the biggest loss among Tel Aviv 25 shares.

Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) rose 0.9% for the biggest gain among Tel Aviv 25 shares, and Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) rose 0.7% on the day's biggest turnover of NIS 88.6 million.

Elsewhere in the market, IDB Holding Corp. Ltd. (TASE:IDBH) rose 24.6%, after outgoing controlling shareholder Nochi Dankner withdrew his motion for a stay in the transfer of the company.

Electra Consumer Products Ltd. (TASE:ECP) fell 9.3%, after Bank Leumi (TASE: LUMI) sold a large block of shares from its 9% stake in the company.

Published by Globes [online], Israel business news - www.globes-online.com - on January 6, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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