Sun: TASE soars to new record, up 15% in 2013

Osem continued climbing today while mobile operators Cellcom and Partner also led the gains on the market.

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 1.44% to 1,377.79 points, the Tel Aviv 100 Index rose 1.28% to 1,234.66 points, and the BlueTech 50 Index rose 1.38% to 331.45 points. Turnover was NIS 837.8 million.

Having already hit a new record on Thursday, the TASE rose strongly to another new record today, despite the flat markets on Wall Street and in Europe on Friday.

In the foreign currency market, options pointed to a continued strengthening of the shekel with a 0.24% drop in the shekel-dollar exchange rate, compared with Friday's representative rate, to NIS 3.515/$, and a 0.22% drop in the shekel-euro exchange rate to NIS 4.787/€. p>In the bond market, long-term Shahar unlinked shekel government bonds and long term Galil CPI-linked government rose 0.3% and 0.4% respectively. The corporate bond benchmark Tel-Bond 20 Index rose 0.24%.

In the stock market, the telecommunication rose 3% with Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) up 4.5% and Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) up 2.7%.

Elsewhere in the market, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) continued its recent good performance rising 1.4% and Israel Chemicals Ltd. (TASE: ICL) rose 1.2%.

Osem Investments Ltd. (controlled by Nestl? SA (SWX:NESN)) (TASE: OSEM) rose 3.7% today after gains of 8.9% last week.

The biggest fall in the market over the past week was Babylon Ltd. (TASE:BBYL), which fell 18.6% after another partner discontinued its contract with the online translator, while Evogene Ltd. (NYSE: EVGN; TASE:EVGN) rose 8.5% after a successful NYSE offering.

Published by Globes [online], Israel business news - - on December 1, 2013

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

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