Mon: Israel Chemicals fails to lift market

Israel Chemicals rose another 2% on the day's biggest turnover, but the banks continued to fall.

The Tel Aviv Stock Exchange (TASE) split today. The Tel Aviv 25 Index fell 0.15% to 1,201.62 points, but the Tel Aviv 100 Index rose 0.12% to 1,073.35 points, and the BlueTech 50 Index rose 0.40% to 299.03 points. Turnover was NIS 1.15 billion.

The TASE was flat today, despite a gains on European markets and at the opening on Wall Street.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.629/$, unchanged from on Friday's rate, and set the shekel-euro representative exchange rate at NIS 4.734/€, down 0.18%.

In the bond market, long-term Shahar unlinked shekel government bonds were unchanged and long term Galil CPI-linked government bonds ranged between losses of 0.1% and gains of 0.1%. The corporate bond benchmark Tel-Bond 20 Index rose 0.02%.

In the stock market, Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) fell 2.8%, for the biggest loss among Tel Aviv 25 shares, while mobile carriers Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) and Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) corrected downward 1.3% and 2.2%, respectively.

The Banking Index fell 1.4%, with Bank Hapoalim (TASE: POLI) down 1.5% and Bank Leumi (TASE: LUMI) down 1.1%.

Israel Chemicals Ltd. (TASE: ICL) rose another 2%, on the day's biggest turnover of NIS 92 million. Delek Group Ltd. (TASE: DLEKG) also rose 2%, on reports that subsidiary Delek Energy Systems Ltd. (TASE: DLEN), which incorporates the company's fuel and gas exploration business plans to raise $2 billion in debt on Wall Street. Israel Chemicals and Delek Group had the biggest gain among Tel Aviv 25 shares.

On the Tel Aviv 100 market, Africa-Israel Investments Ltd. (TASE:AFIL) rose 1.2%, after announcing a rights issue, and Kamada Ltd. (TASE: KMDA) rose 3.6% on a favorable recommendation by Clal Finance.

Elsewhere in the market, El Al Israel Airlines Ltd. (TASE: ELAL) corrected upward 2.5%, even though the strike at Israel's airlines is continuing. IDB Holding Corp. Ltd. (TASE:IDBH) fell another 3.7%, amid worries over the future of the company, controlled by Nochi Danker.

Published by Globes [online], Israel business news - - on April 22, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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