Friday, May 27, 2011

Bethel Finances: Israel Chemicals boosts TASE

www.bethelfinance.com

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 1.12% to 1,237.89 points, the Tel Aviv 100 Index rose 1.34% to 1,125.77 points, and the BlueTech 50 Index rose 1.89% to 271.13 points. Turnover was NIS 2.36 billion.

The TASE rose across the board today, with the exception of the Tel Communications Index, snapping a severe four-day losing streak. The Tel Aviv 25 Index fell 4.3% for the week.

In the bond market, long-term Shahar unlinked government rose by up to 0.4% and long-term Galil CPI-linked rose by up to 0.2%. The corporate bond benchmark Tel-Bond 20 Index rose 0.28%.

In the foreign currency market, the shekel-dollar representative exchange rate fell 0.86% to NIS 3.469/$, and the shekel-euro representative exchange rate fell 0.09% to NIS 4.918/€.

In the stock market, Israel Chemicals Ltd. (TASE: ICL) rose 5.6% on the day's largest turnover of NIS 233 million, on no news.

Three Tel Aviv 25 companies published their first quarter financials today. Israel Corporation (TASE: ILCO) rose 1.9%, despite swinging to a loss. Real estate and industrial company Azrieli Group Ltd. (TASE: AZRG) rose 2.4% and food company Osem Investments Ltd. (TASE: OSEM) rose 0.8%, after both companies reported higher profits.

Real estate company Gazit-Globe Ltd. (TASE: GLOB) rose 4.8%. Also in real estate, Elbit Imaging Ltd. (Nasdaq: EMITF; TASE: EMIT) fell another 4.1% today on debt woes - company denials of any problem notwithstanding.

Banks also rose today, led by Israel Discount Bank (TASE: DSCT) with a rise of 2.3%. Bank Hapoalim (TASE: POLI) rose 1.7% and Bank Leumi (TASE: LUMI) and Mizrahi Tefahot Bank (TASE:MZTF) both rose 1.5%.

Telecom shares went against the market today. Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) fell 4%, Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) fell 2.9%, and Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) fell 0.1%.

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