The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.92% to 1,270.38 points, the Tel Aviv 100 Index rose 0.81% to 1,171.16 points, and the Tel-Tech Index rose 1.06% to 237.33 points. Turnover was NIS 2.75 billion.
The Tel Aviv 25 Index neared its all time high of 1,275.11 points reached earlier this week. Wall Street fell at the opening.
In the bond market, long-term Shahar unlinked government bonds rose by up to 0.1%, and long-term Galil CPI-linked bonds ranged between falls of 0.2% and gains of 0.2%. The corporate bond benchmark Tel-Bond 20 Index rose 0.25%.
In the foreign currency market, the shekel-dollar representative exchange rate rose 0.08% to NIS 3.645/$, and the shekel-euro representative exchange rate rose 0.47% to NIS 5.047/€.
In the stock market, agrochemicals manufacturer Makhteshim Agan Industries Ltd. (TASE: MAIN) rose 2.6%, amid reports that talks between management and employees on a streamlining plan made progress. Maktheshim and its indirect parent, IDB Holding Corp. Ltd. (TASE:IDBH) unit Discount Investment Corporation (TASE: DISI), which rose 2.7%, had the biggest gains among Tel Aviv 25 shares today.
Israel Chemicals Ltd. (TASE: ICL) rose 0.5% to NIS 55.60 on the day's largest turnover of NIS 346 million. The heavy trading in the share was prompted by the publication of third quarter financials by rival and shareholder, Potash Corporation of Saskatchewan Inc. (NYSE; TSX: POT). Earlier, Leader Capital Markets raised its target price for Israel Chemicals to NIS 64, citing the company's improving business environment.
Psagot Investment House Ltd. today published an update on Tel Aviv 25 telecommunications stocks, ahead of their third quarter financials. It gave Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) a "Buy" recommendation; the share rose 2.6%. Psagot gave Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) and Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) "Market perform" recommendations. Cellcom rose 1.6%, and Partner rose 0.4%.
NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) rose 0.9%, after publishing its financials yesterday.
Mellanox Technologies Ltd. (Nasdaq:MLNX; TASE:MLNX) was the center of attraction among technology stocks today, rising 5.8%, after Oracle Corporation (Nasdaq: ORCL) acquired 10% of the company for $70 million.
Published by Globes [online], Israel business news - www.globes-online.com - on October 28, 2010
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