The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 rose 0.32% to 1184.65 points, the Tel Aviv 100 rose 0.29% to 1127.77 points, but the Tel-Tech fell 1.75% to 349 points. Turnover was NIS 1.85 billion.
The TASE rose today as international market stabilized. The leading TASE indices were in positive territory throughout the session, but never strayed far from their opening levels. Investors are closely monitoring developments on international markets while waiting for next Monday's interest rate decision by the Bank of Israel. The market consensus is a 25 basis point hike.
In the foreign currency market, the shekel appreciated against both the dollar and the euro. The shekel-dollar exchange rate fell 0.85% to NIS 3.974/$ and the shekel-euro exchange rate fell 0.78% to NIS 5.7216/€. In the bond market, prices for long-term shekel bonds rose by up to 0.6%, after falling for two days.
In the stock market, Israel Chemicals Ltd. (TASE: CHIM) resumed its climb today, climbing 3.4%. Makhteshim Agan Industries Ltd. (TASE: MAIN) rose 1.8% after Merrill Lynch raised its target price for the share, citing rising prices for herbicides.
Banks were mixed, with Bank Hapoalim (LSE: BKHD; TASE: POLI) falling 0.8%, while Bank Leumi (TASE: LUMI) rose 1.4%.
Among other blue chip stocks, Bezeq The Israeli Telecommunication Co. Ltd. (TASE: BEZQ) rose 1.3%, after Clal Finance Batucha upgraded its recommendation for the share. Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) fell 2%. Delek Group Ltd. (TASE: DLEKG) rose 0.9% after Citi upgraded its commendation for Delek US Holdings Inc. (NYSE:DK).
Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR; LSE:PCCD) rose 2%, Oil Refineries Ltd. (TASE:ORL) rose 2.9%, but Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) fell 1.9%.
The Real Estate 15 index fell 0.3%. Delek Real Estate Ltd. (TASE: DLKR) rose 2.3%, but Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY) fell 1% and Gazit-Globe Ltd. (TASE: GLOB) fell 2.3%.
Published by Globes [online], Israel business news - www.globes-online.com - on December 18, 2007
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