Thu: Tel Aviv 25 Index up 2.1% in May

EZchip and Mellanox recorded the biggest gains on the Tel Aviv 25 Index, and Partner the biggest loss.

The Tel Aviv Stock Exchange (TASE) was flat today. The Tel Aviv 25 Index dipped 0.01% to 1,232.0 points, the Tel Aviv 100 Index dipped 0.11% to 1,107.90 points, but the BlueTech 50 Index rose 0.52% to 312.73 points. Turnover was NIS 1.83 billion.

After early losses, the TASE recovered to end the day almost at its starting levels. European markets rose as did Wall Street at the opening. The Tel Aviv 25 Index rose 1.4% for the week, 2.1% for May, and 3.9% since the beginning of the year. Tel Aviv 25 options expired today with a drop of 0.2%.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.682/$, down 0.33% on yesterday's rate, and set the shekel-euro representative exchange rate at NIS 4.78/€, down 0.02%.

In the bond market, long-term Shahar unlinked shekel government bonds fell by up to 0.5%, and long term Galil CPI-linked government ranged between losses of 0.1% and gains of 0.1%. The corporate bond benchmark Tel-Bond 20 Index fell 0.25%.

In the stock market, the banks brought to a close the first quarter reporting season. Bank Hapoalim (TASE: POLI) rose 0.3% despite reporting lower profits, Bank Leumi (TASE: LUMI) fell 0.4%, despite reporting higher profits, and Israel Discount Bank (TASE: DSCT) rose 1.8% on higher profits.

Delek Group Ltd. (TASE: DLEKG) rose 0.5% on a small net profit and Israel Corporation (TASE: ILCO) fell 1.1%, after halving its net loss.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 1.3% on the day's biggest turnover of NIS 353.7 million.

EZchip Semiconductor Ltd. (Nasdaq: EZCH; TASE:EZCH) rose 4.7% and Mellanox Technologies Ltd. (Nasdaq:MLNX; TASE:MLNX) rose 2.8% for the biggest gains among Tel Aviv 25 shares, while Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) fell 3% for the biggest loss.

On the Tel Aviv 100 Index, Babylon Ltd. (TASE:BBYL) rose 6.5%, after announcing that Google Inc. (Nasdaq: GOOG) did not need more action to repair flaws under the terms of the agreement between the companies.

Mid-Cap companies Palram Industries Ltd. (TASE: PLRM) rose 10.1% and Silicom Ltd. (Nasdaq:SILC; TASE:SILC) rose 11.2% after reporting strong financials.

Published by Globes [online], Israel business news - - on May 30, 2013

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

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