Wed: Osem boosts TASE

Stocks rose today, with Osem up strongly after chairman Dan Propper sold shares to controlling shareholder Nestle. Camtek corrected following a 175% gain in three sessions.

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.39% to 1,351.96 points, the Tel Aviv 100 Index rose 0.21% to 1,216.06 points, and the BlueTech 50 Index rose 0.48% to 327.98 points. Turnover was NIS 1.06 billion.

The TASE indices rose today to set a new record, 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 3.541/$, down 0.03% on yesterday's rate, and set the shekel-euro representative exchange rate at NIS 4.816/€, up 0.37%.

In the bond market, both long-term Shahar unlinked shekel government bonds and long term Galil CPI-linked government rose. The corporate bond benchmark Tel-Bond 20 Index rose 0.04%.

In the stock market, Bank Hapoalim (TASE: POLI), Israel Discount Bank (TASE: DSCT), and First International Bank of Israel (TASE: FTIN) published their financials today. Bank Hapoalim fell 2.4% but Discount Bank rose 1.7%, on higher profits, and First International Bank fell 2.2%, on lower profits.

Osem Investments Ltd. (TASE: OSEM) rose 6.2%, for the biggest gain among Tel Aviv 25 shares, after chairman Dan Propper sold a block of shares to the company's controlling shareholder Nestle SA (SWX: NESN).

Israel Chemicals Ltd. (TASE: ICL) fell 2.5%, after a labor dispute was declared at three units in the Negev. Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) corrected upwards 1.6% on the day's biggest turnover of NIS 84 million. Oil Refineries Ltd. (TASE:ORL) fell 4.6% for the biggest loss among Tel Aviv 25 shares.

Among mid-cap companies, Brainsway Ltd. (TASE:BRIN) fell 8.3%, after announcing that it would miss its sales target, and Camtek Ltd. (Nasdaq: CAMT; TASE:CAMT) corrected downward 19.7%, following a 175% three-day gain.

Published by Globes [online], Israel business news - - on November 27, 2013

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

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