Tue: Leviathan partners lift TASE

Delek units Avner and Delek Drilling rose while Ratio climbed sharply on the day's largest turnover, after the High Court gave the green light for gas exports.

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.32% to 1,308.27 points, the Tel Aviv 100 Index rose 0.39% to 1,182.46 points, and the BlueTech 50 Index rose 0.39% to 343.77 points. Turnover was NIS 999.3 million.

The TASE rally resumed today, after a one-day break, in line with gains 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 3.528/$, down 0.20% on yesterday's rate, and set the shekel-euro representative exchange rate at NIS 4.824/€, down 0.24%.

In the bond market, long-term Shahar unlinked shekel government bonds and long term Galil CPI-linked government rose. The corporate bond benchmark Tel-Bond 20 Index rose 0.08%.

In the stock market, Leviathan partners Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) rose 2.1% and 1.8%, respectively, and their parent company Delek Group Ltd. (TASE: DLEKG) rose 2.2%, after the High Court of Justice dismissed the petition against the government's decision allowing natural gas exports. Their partner in the natural gas field, Ratio Oil Exploration (1992) LP (TASE:RATI.L), which is listed on the Tel Aviv 100 Index rose 9.3% on the day's biggest turnover of NIS 85 million. Delek's partner in the Tamar gas field, Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L), fell 1%.

Oil Refineries Ltd. (TASE:ORL) rose 3.6% for the biggest gain among Tel Aviv 25 shares and Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) fell 2.7% for the biggest loss.

On the Tel Aviv 100 Index, Babylon Ltd. (TASE:BBYL) corrected upward 3%, after announcing that it will meet Yahoo! Inc. (Nasdaq: YHOO) about deficiencies in Babylon's service. Spacecom Satellite Communications Ltd. (TASE:SCC) fell 15.1%, after announcing another breakdown in its Amos 5 communications satellite.

Published by Globes [online], Israel business news - www.globes-online.com - on October 22, 2013

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

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