Mon: Bezeq bucks bear market

Bezeq, Cellcom, and Partner failed to lift the market, as Israel Chemicals fell on the day's biggest turnover.

The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 0.99% to 1,198.90 points, the Tel Aviv 100 Index fell 1.37% to 1,071.52 points, and the BlueTech 50 Index fell 1.62% to 295.74 points. Turnover was NIS 1.25 billion.

The TASE fell sharply across the board today, in line with losses on European markets and at the opening on Wall Street, the day after the appointment of Jacob Frenkel as the next governor of the Bank of Israel, a position he held in the 1990s.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.634/$, up 0.13% on Friday's rate, and set the shekel-euro representative exchange rate at NIS 4.762/€, down 0.64%.

In the bond market, corporate bond benchmark Tel-Bond 20 Index fell 0.69%.

In the stock market, Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) rose 2.2%, for the biggest gain among Tel Aviv 25 shares, while mobile carriers Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) and Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) also bucked the market, rising 0.4% and 0.2%, respectively.

Strauss Group Ltd. (TASE:STRS) fell 2.8% for the biggest loss among Tel Aviv 25 shares, although its food peer on the index, Osem Investments Ltd. (TASE: OSEM) was unchanged.

Israel Chemicals Ltd. (TASE: ICL) fell 1% on the day's biggest turnover of NIS 87.5 million. Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 0.9%, after announced the launch of generic Viagra in Europe and Canada.

Israel Discount Bank (TASE: DSCT) led the banks downward with a 2.6% drop, while Bank Hapoalim (TASE: POLI) fell 1.7% and Bank Leumi (TASE: LUMI) fell 1.3%.

Published by Globes [online], Israel business news - - on June 24, 2013

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

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