Mon: TASE rises despite fall by Israel Chemicals

On the first day of the TASE's extended trading hours, Israel Chemicals and parent company Israel Corp. fell sharply on news that the government will investigate its take on natural resources.

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.32% to 1,228.98 points, the Tel Aviv 100 Index rose 0.44% to 1,102.19 points, and the BlueTech 50 Index rose 0.77% to 305.21 points. Turnover was NIS 1.29 billion, relatively high on the first day of the extended trading hours. The market closed at 5.30 pm instead of 4.30 pm.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.602/$, up 0.28% compared with Friday's rate, and set the shekel-euro representative exchange rate at NIS 4.798/€, up 0.23%

In the bond market, the corporate bond benchmark Tel-Bond 20 Index rose 0.37%

In the stock market, Israel Chemicals Ltd. (TASE: ICL) fell 4.6% on the day's highest trading volume of NIS 180 million, following the government's announcement that a new committee will investigate the royalties paid on Israel's natural resources. Parent company Israel Corporation (TASE: ILCO) fell 6.3%.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) rose 0.7% after reporting that it is acquiring lung disease drug developer MicroDose Therapeutx for $40 million plus $125 million in milestone payments.

Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) rose 4.9%, the largest rise of any Tel Aviv 25 share, despite the moving ahead of the fiber optics project and the award of the tender. The other telecom providers were also in positive territory with Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) up 1.02% and Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) up 0.65%.

Published by Globes [online], Israel business news - - on June 17, 2013

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

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