Wed: Bezeq again boosts market

Bezeq and its parent companies B Communications and Internet Gold rose strongly after B Communications modified its financial covenants.

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.54% to 1,304.96 points, the Tel Aviv 100 Index rose 0.56% to 1,179.30 points, and the BlueTech 50 Index rose 0.34% to 327.06 points. Turnover was NIS 938.5 million.

The TASE rose 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 3.531/$, down 0.03% on yesterday's rate, and set the shekel-euro representative exchange rate at NIS 4.771/€, down 0.08%.

In the bond market, long-term Shahar unlinked shekel government and long term Galil CPI-linked government bonds rose. The corporate bond benchmark Tel-Bond 20 Index rose 0.13%.

In the stock market, Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) rose 4% for the biggest gain among Tel Aviv 25 shares, and NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) fell 2.2% for the biggest loss. Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) rose 0.6% on the day's biggest turnover of NIS 68.7 million. Opko Health Inc. (NYSE: OPK; TASE: OPK) corrected downward 1.9%.

On the Tel Aviv 100 Index, Ormat Industries Ltd. (TASE: ORMT) rose 2.1%, after announcing that long-standing CEO Yehudit Bronicki will step down next June and the publication of financials by its US operating unit, Ormat Technologies Inc. (NYSE: ORA). Given Imaging Ltd. (Nasdaq: GIVN; TASE: GIVN) rose 2.8%, after publishing good financials and Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE: TSEM) fell 3.6% after publishing not-so-good financials.

Bezeq parent company B Communications Ltd. (Nasdaq:BCOM; TASE: BCOM) and its parent company, Internet Gold Golden Lines Ltd. (Nasdaq: IGLD; TASE:IGLD) rose 5.3% and 3.4%, respectively, after B Communications announced modifications to its financial covenants.

Small-cap MCS Medical Compression Systems (DBN) Ltd. (TASE:MDCL) fell 3.2%, after raising NIS 22.2 million.

Published by Globes [online], Israel business news - - on November 6, 2013

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

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