The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 2.1% to 911.92 points, the Tel Aviv 100 Index rose 1.84% to 844.73 points, and the Tel-Tech Index rose 1.1% to 200.72 points. Turnover was NIS 2.13 billion.
The TASE hit a 10-month high as the Tel Aviv 25 Index broke the 900-point barrier and the Tel Aviv 100 Index neared the 850-point level.
TASE investors were optimistic today after yesterday's gains on Wall Street, which were followed by Asian and European markets in turn today. An emergence from recession by the US will have a dramatic affect on stock markets around the world, the TASE included.
Long-term Shahar unlinked government bonds rose by up to 0.3%, and long-term Galil CPI-linked bonds rose by up to 0.4%. The corporate bond benchmark Tel-Bond 20 Index fell 0.35%.
In the foreign currency market, the shekel-dollar representative exchange rate fell 0.36% to 3.888/$, and the shekel-euro representative exchange rate fell 0.48% to NIS 5.528/€.
In the stock market, the Real Estate 15 Index helped drive the market upwards with a gain of 2.2%. Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY) rose 1% and subsidiary Africa-Israel Properties Ltd. (TASE: AFPR) rose 2.7%. Gazit-Globe Ltd. (TASE: GLOB), the number 2 company on the index, rose 4.6%.
Alrov (Israel) Ltd. (TASE: ALRO), which is not on the index rose 15.3% today, continuing yesterday's rise of 8.3%. The share has gained 493% since the beginning of the year. Arazim Investment Ltd. (TASE: AZRM) went the other way falling 5.3%, after the Royal Bank of Scotland plc (LSE: RBS) demanded immediate partial repayment of a loan.
Israel Chemicals Ltd. (TASE: ICL) went against the market trend, falling 1.1%, as prices in the potash market continue to drop. Parent company Israel Corporation (TASE: ILCO) rose 3.3%.
The Banking Index rose 5.3%. Bank Hapoalim (TASE: POLI) rose 6.3%, Bank Leumi (TASE: LUMI) rose 4.4%, Israel Discount Bank (TASE: DSCT) rose 5.4% after completing the sale of its 5.97% stake in Harel Insurance Investments and Financial Services Ltd. (TASE: HARL) for NIS 190 million. Harel rose 0.6%.
Delek Group Ltd. (TASE: DLEKG) subsidiary Delek Energy Systems Ltd. (TASE: DEOL) fell 2.2% after selling its Vietnamese oil exploration interests yesterday. Delek Group rose 3.2%.
Published by Globes [online], Israel business news - www.globes-online.com - on July 21, 2009
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