Wed: Results boost Delek

Stocks rose today, with Delek Group and Discount Bank in the lead. Israel Corp. was the biggest decliner.

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.74% to 1,164.69 points, the Tel Aviv 100 Index rose 0.89% to 1,069.69 points, and the BlueTech 50 Index rose 0.78% to 318.95 points. Turnover was NIS 1.49 billion.

A late rally sent the TASE into positive territory, bucking losses 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 3.666/$, up 0.25% compared with yesterday's representative rate, and set the shekel-euro representative exchange rate at NIS 4.902/€, up 0.43%.

In the bond market, both long-term Shahar unlinked shekel government bonds and long term Galil CPI-linked government fell. The corporate bond benchmark Tel-Bond 20 Index fell 0.23%.

In the stock market, Delek Group Ltd. (TASE: DLEKG) rose 3%, after publishing its financials.

Israel Discount Bank (TASE: DSCT) rose 4%, for the biggest gain on the Tel Aviv 25 Index and First International Bank of Israel (TASE: FTIN) rose 0.4%, after both banks reported profit growth for the second quarter.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) rose 0.2% on the day's biggest turnover of NIS 92.3 million. Israel Chemicals Ltd. (TASE: ICL) fell 1% and parent company Israel Corporation (TASE: ILCO) fell 3.1%, for the biggest loss on the Tel Aviv 25 Index.

On the Tel Aviv 100 Index, Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE: TSEM) rose 2%, after announcing that its US unit, Jazz Semiconductor Inc., was named Trusted Foundry by the US Department of Defense. Real estate company Jerusalem Economy Ltd. (TASE:ECJM) (JEC) rose 1.3%, after publishing its financials.

Elsewhere in the market, El Al Israel Airlines Ltd. (TASE: ELAL) rose 0.6%, after announcing that it had secured an extension from First Israel Mezzanine Investors Fund (FIMI) to complete talks on a new labor contract. Albaad Massuot Yitzhak Ltd. (TASE: ALBA) rose 7.6% on its financials.

Published by Globes [online], Israel business news - www.globes-online.com - on August 28, 2013

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

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