Wed: Telecoms stocks strong

The TASE fell today, but there were decent rises for Bezeq, the day's most heavily traded stock, Cellcom, and Partner.

Stock indices on the Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index closed 0.13% down, at 1,307.31 points; the Tel Aviv 100 Index closed 0.26% down, at 1,185.48 points; and the BlueTech Index closed 0.97% down, at 329.74 points. Turnover totaled NIS 952 million. In bonds, the TelBond 20 Index closed 0.19% up, at 312.73 points.

In the foreign exchange market, the representative shekel-dollar rate was set 0.085% lower than yesterday's rate, at NIS 3.5310/$, while the shekel-euro rate was set 0.131% higher, at NIS 4.7399/€.

Today's weakness on the TASE was in line with the trend in Europe.

Among stocks attracting interest today were Israel Chemicals, which reported a halving of its third quarter profit this morning. Its stock price fell 3.02%. Telecommunications stocks were firm. Bezeq was the day's most heavily traded stock, rising 1.94%, while Partner rose 2.49%, despite a downgrade from Goldman Sachs, and Cellcom rose 4.55%. Teva rose 0.90%. Troubled Babylon, which is making layoffs after the collapse of its business with Google, fell 4.03%. El Al, which reported a strong third quarter today, fell 3.25%.

Published by Globes [online], Israel business news - www.globes-online.com - on November 13, 2013

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

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