Tue: Discount Bank boosts market

Discount Bank recorded the largest gain on the Tel Aviv 25 Index, after foreign investors reportedly bought large numbers of shares.

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.34% to 1,289.75 points, the Tel Aviv 100 Index rose 0.29% to 1,167.45 points, but the BlueTech 50 Index fell 0.27% to 335.07 points. Turnover was NIS 997.3 million.

The TASE rose today, 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 3.524/$, down 0.14% on yesterday's rate, and set the shekel-euro representative exchange rate at NIS 4.851/€, down 0.43%.

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 0.10%.

In the stock market, Israel Discount Bank (TASE: DSCT) rose 3% for the biggest gain among Tel Aviv 25 shares, on the day's biggest turnover of NIS 59.7 million. NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) fell 2.1% for the biggest loss on the Index. Foreign investors were reportedly behind the heavy trading in the share.

Israel Corporation (TASE: ILCO) rose 2.7%, after a announcing a $340 million contract in China by subsidiary HelioFocus LTd.. Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) rose 1.1%, despite Minister of Communications Gilad Erdan's decision to cut the fixed-line connective fee.

On the Tel Aviv 100 Index, Allot Communications Ltd. (Nasdaq:ALLT; TASE: ALLT) rose 8.7%, after announcing a $12 million contract. Kamada Ltd. (Nasdaq: KMDA); TASE: KMDA) fell 5.3%, after lowering its full-year guidance. Compugen Ltd. (Nasdaq: CGEN; TASE: CGEN) rose 3.7%, after publishing its results.

Small-cap Intec Pharma Ltd. (TASE: INTP) fell 9.3%, after the US Food and Drug Administration (FDA) demanded more information about a clinical trial.

Published by Globes [online], Israel business news - www.globes-online.com - on October 29, 2013

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

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