Mon: Tamar gas contracts fuel TASE rise

Delek Group and its units Avner Oil and Delek Drilling, as well as their Tamar partner Isramco, rose on news of their huge Israel Corp. gas deal.

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.20% to 1,229.60 points, the Tel Aviv 100 Index rose 0.17% to 1,086.48 points, but the BlueTech 50 Index fell 0.31% to 336.10 points. Turnover was NIS 1.02 billion.

A late rally boosted the leading TASE indices today, despite losses on European markets and at the opening on Wall Street.

In the bond market, long-term Shahar unlinked shekel government bonds rose by up to 0.1% and long-term Galil CPI-linked government bonds rose by up to 0.2%. The corporate bond benchmark Tel-Bond 20 Index rose 0.06%.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.865/$, down 0.23% on Friday's rate, and set the shekel-euro representative exchange rate at NIS 5.015/€, up 0.41%.

In the stock market, the Israeli partners in the Tamar gas field led the market today, after signing $4 billion in gas supply deals with Israel Corporation (TASE: ILCO) subsidiaries. Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) rose 2.2% and 2%, respectively, and their parent company, Delek Group Ltd. (TASE: DLEKG), rose 2.4%, for the biggest gain among Tel Aviv 25 shares. Their partner Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) rose 1.8%.

Israel Corp. rose 1.7%, and subsidiaries Israel Chemicals Ltd. (TASE: ICL) rose 0.8% on the day's biggest turnover of NIS 47 million, and Oil Refineries Ltd. (TASE:ORL) rose 1.6%.

Mizrahi Tefahot Bank (TASE:MZTF) fell 2.4%, for the biggest loss among Tel Aviv 25 shares, after publishing its financials. Bank Hapoalim (TASE: POLI) fell 0.5% and Israel Discount Bank (TASE: DSCT) fell 2.1%, but Bank Leumi (TASE: LUMI) rose 0.6%.

On the Tel Aviv 100 Index, Babylon Ltd. (TASE:BBYL) fell 7.1%, after postponing a planned offering on Wall Street.

Harel Insurance Investments and Financial Services Ltd. (TASE: HARL) rose 4.1%, after publishing positive financials for the third quarter.

Mid-Cap 120 listed Alvarion Ltd. (Nasdaq: ALVR; TASE: ALVR) rose 2.1% on a Guinean contract. Small-cap Elspec Engineering Ltd. (TASE:ELSPC) rose 8.2%, after publishing its financials.

Published by Globes [online], Israel business news - - on November 26, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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