The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.19% to 1,232.35 points, the Tel Aviv 100 Index rose 0.03% to 1,089.90 points, but the BlueTech 50 Index fell 0.95% to 335.91 points. Turnover was NIS 653 million.
The TASE began December by rising slightly today, after Wall Street was mixed on Friday. The Tel Aviv 25 Index rose 1.3% in November and has risen 13.3% since the start of 2012.
After last month's slight rise Meitav Investment House Ltd. estimates that nominal returns for provident funds in November were 0.9%. Looking ahead to 2013, Meitav believes that "developed markets will grow in 2013 at a significantly lower rate than their growth potential - just 1.5% which is similar to returns reaped in 2012." Estimates for emerging markets are, "these are expected to grow at a very good rate - about 5.5%, higher than 2012."
In the bond market, long-term Shahar unlinked government bonds were unchanged and long-term Galil CPI-linked moved between a fall of 0.1% and a rise of 0.1% The corporate bond benchmark Tel-Bond 20 Index rose 0.12%.
In the stock market, Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) led the rises on the Tel Aviv 25 Index, rising a further 3.3%, after the sale by Ilan Ben-Dov to Haim Saban was signed. Analysts see the change of ownership in a positive light and see the deal giving long-tern support to the share. Partner's competitor Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) rose 3.1% and the Communications Index rose 1.5%.
However, Scailex Corporation (TASE: SCIX; Pink Sheets:SCIXF), through which Ilan Ben-Dov controls Partner fell 4.4% although its bonds rose 5.7%. Suny Electronics Ltd. (TASE: SUNY), which controls Scailex, fell 12.7%.
Among the dual listed technology shares, EZchip Semiconductor Ltd. (Nasdaq: EZCH; TASE:EZCH) fell 4% and Mellanox Technologies Ltd. (Nasdaq:MLNX; TASE:MLNX) fell 3.4% on the day's largest trading turnover of NIS 42 million. Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) fell 1% after presenting a disappointing guidance for 2013.
Babylon Ltd. (TASE:BBYL) fell 5.6% after Google complained after defects arising from their agreement with the online translation company.
Israel Opportunity Energy Resources LP (TASE: ISOP.L) rose 6.4% after signing an agreement to become a partner in the Neta and Roy permits with Ratio Oil Exploration (1992) LP (TASE:RATI.L). However, Ratio itself fell 2.7%.
Israel Land Development Company (TASE: ILDC) rose 10% without any announcement, and there were also big gains for Hamashbir 365 Holdings Ltd. (TASE:MSAH) and El Al Israel Airlines Ltd. (TASE: ELAL), which rose 23.2% and 9% respectively.
Published by Globes [online], Israel business news - www.globes-online.com - on December 2, 2012
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