Wednesday, May 11, 2011

Bethel Finances: Banks lift Tel Aviv 25 above 1,300 points

www.bethelfinance.com

Bethel Finance news:

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 1.24% to 1,300.84 points, the Tel Aviv 100 Index rose 1.42% to 1,182.75 points, and the BlueTech 50 Index rose 2.90% to 289.47 points. Turnover was NIS 1.72 billion.

In the foreign currency market, the shekel-dollar representative exchange rate rose 0.49% to NIS 3.465/$, and the shekel-euro representative exchange rate rose 0.28% to NIS 4.984/€.

In the bond market, long-term Shahar bonds rose by up to 0.1%, but long term CPI-linked Galil bonds fell by up to 0.1%. The corporate bond benchmark Tel-Bond 20 Index was unchanged.

In the stock market, Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) was the center of interest, rising 1% on the day's biggest turnover of NIS 132 million, following the publication of its financial report for the first quarter.

Israel Chemicals Ltd. (TASE: ICL) rose 2.6% to NIS 58.30, on the day's second biggest turnover of NIS 125 million. UBS raised its recommendation for the share to "Buy" from "Neutral", with a target price of NIS 68, on the basis of higher global prices for fertilizers.

Paz Oil Company Ltd. (TASE:PZOL) fell 1.3% as the jet fuel crisis at Ben Gurion Airport appears to be over, at least for now. On Sunday, the company said that it will resume fuel deliveries, but that it cannot yet estimate the effect of the incident on its business.

The banks stood out today. Mizrahi Tefahot Bank (TASE:MZTF) rose 3.9%, for the biggest gain among Tel Aviv 25 shares. Bank Leumi (TASE: LUMI) rose 2.3% and Bank Hapoalim (TASE: POLI) rose 1.7%.

Mellanox Technologies Ltd. (Nasdaq:MLNX; TASE:MLNX) jumped 10.3%, after rising 8% on Nasdaq yesterday. Ness Technologies Ltd. (Nasdaq: NSTC; TASE: NSTC) rose 10.4% after gains on Nasdaq yesterday.

Silicom Ltd. (Nasdaq:SILC; TASE:SILC) rose 5% after announcing that it won two new design contracts.

Alrov (Israel) Ltd. (TASE: ALRO) rose 5% and its subsidiary Alrov Properties and Lodgings Ltd. (TASE: ALRPR) rose 4.5%. Union Bank began coverage of the shares with an "Outperform" recommendation for Alrov and a "Buy" recommendation for Alrov Properties.

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