Tuesday, June 21, 2011

Bethel Finances: Banks continue to lift market

www.bethelfinance.com

Bethel Finance news:

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 1.49% to 1,223.18 points, the Tel Aviv 100 Index rose 1.38% to 1,106.32 points, and the TechBlue 50 Index rose 1.27% to 266.14 points. Turnover was NIS 1.64 billion.

The TASE rose strongly today, after remaining flat for two sessions. Futures contracts pointed to gains at the opening on Wall Street, which materialized.

In the bond market, long-term Shahar unlinked government bonds rose by up to 0.1%, and long-term Galil CPI-linked bonds rose by up to 0.3%. The corporate bond benchmark Tel-Bond 20 Index rose 0.22%.

In the foreign currency market, the shekel-dollar representative exchange fell 1.24% to NIS 3.416/$, and the shekel-euro representative exchange rate fell 0.49% to NIS 4.903/€.

In the stock market, holding companies pulled the market upwards, after pulling the market down yesterday. Israel Corporation (TASE: ILCO) rose 3.1%, Delek Group Ltd. (TASE: DLEKG) rose 2.4% and IDB Holding Corp. Ltd. (TASE:IDBH) unit Discount Investment Corporation (TASE: DISI) rose 1%.

The Banking Index rose another 2% today, pulled up by a 2.4% gain by Bank Hapoalim (TASE: POLI) on the day's largest turnover of NIS 114 million and 1.8% gain by Bank Leumi (TASE: LUMI).

Real estate company Gazit-Globe Ltd. (TASE: GLOB) rose 2.1%.

Ormat Industries Ltd. (TASE: ORMT) rose 5.6% after winning another contract in New Zealand. Visonic Ltd. (TASE:VSC) rose 76% after announcing talks to be acquired by Tyco International Ltd. (NYSE: TYC). Ituran Location and Control Ltd. (Nasdaq:ITRN); TASE:ITRN) fell 3% after a court ordered to pay $22.7 million to US private equity fund Leonardo LP.

Allium Medical Ltd. (TASE: ALMD) rose 15.1% after announcing its merger with Biomedix Incubator Ltd. (TASE:BMDX) unit Israel Biomedical Investments Ltd. in a share-swap deal. Biomedix rose 3.4%.

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