Mon: Israel Chemicals boosts market

Israel Chemicals rose sharply on reports that an Uralkali shareholder may sell part of his stake in the Russian potash company.

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 1.24% to 1,179.04 points, the Tel Aviv 100 Index rose 1.13% to 1,080.65 points, and the BlueTech 50 Index rose 1.07% to 322.65 points. Turnover was NIS 1.33 billion.

The TASE rose today, in line with gains at the opening on Wall Street, and despite losses on European markets.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.625/$, down 0.19% on last Tuesday's rate, before the Rosh Hashana holiday and set the shekel-euro representative exchange rate at NIS 4.782/€, up 0.02%.

In the bond market, long-term Shahar unlinked shekel government bonds and long term Galil CPI-linked government bonds rose. The corporate bond benchmark Tel-Bond 20 Index rose 0.27%.

In the stock market, Israel Chemicals Ltd. (TASE: ICL) rose 6.9%, for the biggest gain among Tel Aviv 25 shares, and on the biggest turnover of NIS 186 million, following reports that a shareholder in Russian potash company Uralkali JSC (LSE: URKA) may sell part of his stake. Parent company Israel Corporation (TASE: ILCO) rose 5.1%.

First International Bank of Israel (TASE: FTIN) fell 1.6% for the biggest loss among Tel Aviv 25 shares.

On the Tel Aviv 100 Index, Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS) fell 1.3%, after the Histadrut (General Federation of Labor in Israel) declared a labor dispute at the company. Parent company IDB Holding Corp. Ltd. (TASE:IDBH) fell 2.3%%, after the Israel Securities Authority recommended indicting chairman Nochi Dankner for share manipulation at the company.

Elsewhere in the market, Clal Biotechnology Industries Ltd. (TASE: CBI) rose 0.2% but Elbit Medical Technologies Ltd. (TASE:EMTC) fell 3.4%, after their portfolio company, Gamida Cell Ltd. reported a successful transplant of its umbilical blood cell treatment for blood cancer. Brainsway Ltd. (TASE:BRIN) rose 2.5%, after obtaining US Food and Drug Administration (FDA) approval to test its deep transcranial magnetic stimulation device to help patients quit smoking, and BiolineRX Ltd. (Nasdaq: BLRX); TASE:BLRX) rose 4.9%, after obtaining FDA orphan drug status for its acute myeloid leukemia treatment.

Published by Globes [online], Israel business news - - on September 9, 2013

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

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