The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 1.01% to 1,132.51 points, the Tel Aviv 100 Index rose 1.25% to 1,013.47 points, and the BlueTech 50 Index rose 1.73% to 248.61 points. Turnover was NIS 1.05 billion.
The Tel Aviv 25 Index fell 7.5% in August, and has fallen 14.6% since the beginning of the year.
The TASE rose across the board today, to end a particularly bad month. The market's generally positive momentum this has been supported by global trends. Options pointed to more gains at the opening on Wall Street, which materialized. Turnover on the TASE remains thin however.
In the bond market, long-term Shahar unlinked government bonds rose by 0.1%, and long-term Galil CPI-linked bonds ranged between losses of 0.1% and gains of 0.1%. The corporate bond benchmark Tel-Bond 20 Index rose 0.38%.
In the foreign currency market, the shekel-dollar representative exchange rate fell 0.39% to NIS 3.558/$, and the shekel-euro representative exchange rate fell 0.06% to NIS 5.14/€.
In the stock market, the second quarter reporting season ended today with financials by four of the big five banks. Israel Discount Bank (TASE: DSCT) rose 3.1% for the biggest gain among Tel Aviv 25 shares, Bank Hapoalim (TASE: POLI) rose 2.2%, but Bank Leumi (TASE: LUMI) fell 0.8%. Unlike Bank Hapoalim and Discount Bank, Bank Leumi reported lower profits for the quarter. First International Bank of Israel (TASE: FTIN), which is on the Tel Aviv 100 Index, rose 0.7%.
Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) rose 1.5% on the day's biggest turnover of NIS 91 million.
Delek Group Ltd. (TASE: DLEKG) rose 3%, after "Globes" reported yesterday that the Tamar natural gas partners were about to sign a multibillion dollar contract with Israel Electric Corporation (IEC) (TASE: ELEC.B22).
Israel Chemicals Ltd. (TASE: ICL) rose 1.1%. Union Bank today raised its target price for the share from NIS 52 to NIS 54, with a "Hold" recommendation.
Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) fell 0.8% for the biggest loss among Tel Aviv 25 shares.
Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) rose 1.2% and sister company NetVision Ltd. (TASE: NTSN) rose 0.1%, after closing their merger. NetVision will delist on Sunday.
Brainsway Ltd. (TASE:BRIN) rose 6.9%, after announcing success in two interim trials of its brain disorders treatment device.
Network connectivity solutions developer Silicom Ltd. (Nasdaq:SILC; TASE:SILC) rose 12% after announcing a design win that will boost its annual revenue by $1 million.
Ness Technologies Ltd. (Nasdaq: NSTC; TASE: NSTC) fell 0.4% after completing its sale to CVCI, and will delist tomorrow.
Published by Globes [online], Israel business news - www.globes-online.com - on August 31, 2011
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