Sun: Energy sector soars after Egyptian gas explosion

Delek Energy rose 7%, while parent Delek Group, and subsidiaries Avner and Delek Drilling, all rose sharply as well.

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 1.6% to 1,319.44 points, the Tel Aviv 100 Index rose 1.7% to 1,228.32 points, and the Tel-Tech Index rose 2.7% to 263.06 points. Turnover was NIS 1.6 billion.

Following the explosion at an Egyptian gas pipeline over the weekend, the local energy sector attracted investor interest and rose today. Avner Oil and Gas LP (TASE: AVNR.L) rose 4.7%, Delek Drilling LP (TASE: DEDR.L) rose 3.7%, and their direct parent company Delek Energy Systems Ltd. (TASE: DEOL) jumped 7%. Delek Group Ltd. (TASE: DLEKG) rose 4.6%.

Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) rose 4.6%, Modiin Energy LP (TASE:MDIN.L) rose 6.7%, and Givot Olam Oil Exploration LP (TASE:GIVO.L) rose 6.2%,

Ampal-American Israel Corporation (Nasdaq: AMPL; TASE:AMPL), which holds about a 12.5% stake in Egyptian energy supplier EMG, estimated today that gas supplies to Israel could resume in about a week. Ampal shares fell 0.3%, after falling 22% last week.

Bezeq The Israeli Telecommunication Co. Ltd. (TASE: BEZQ) rose 2.5%, on the day's highest turnover of NIS 101 million.

In the bond market, long-term Shahar unlinked government bonds fell by up to 0.2%, and long-term Galil CPI-linked bonds ranged from falls of 0.3% to gains of 0.2%. The corporate bond benchmark Tel-Bond 60 Index rose 0.1%.

Published by Globes [online], Israel business news - www.globes-online.com - on February 6, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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