Tue: Discount Bank pulls TASE down

Discount Bank fell heavily after the Bronfman-Schron group sold shares, while Delek Group bucked the market.

The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 0.55% to 1,364.73 points, the Tel Aviv 100 Index fell 0.59% to 1,222.48 points, and the BlueTech 50 Index fell 0.77% to 327.25 points. Turnover was NIS 1.31 billion.

The TASE fell again today in line with losses 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 3.523/$, down 0.20% on yesterday's rate, and set the shekel-euro representative exchange rate at NIS 4.782/€, up 0.08%.

In the bond market, long-term Shahar unlinked shekel government bonds and long term Galil CPI-linked government fell. The corporate bond benchmark Tel-Bond 20 Index rose 0.16%.

In the stock market, Israel Discount Bank (TASE: DSCT) fell 3.4%, for the biggest loss among Tel Aviv 25 shares, and on the day's biggest turnover of NIS 106.6 million, after the Bronfman-Schron group sold a bloc shares from the bank's controlling core.

Israel Chemicals Ltd. (TASE: ICL) fell 0.4%, after Potash Corporation of Saskatchewan Inc. (NYSE; TSX: POT) warned of trouble in the global potash market.

Delek Drilling LP (TASE: DEDR.L) rose 1.4% for the biggest gain among Tel Aviv 25 shares, and sister company Avner Oil and Gas LP (TASE: AVNR.L) rose 0.5%, while their parent company, Delek Group Ltd. (TASE: DLEKG) rose 1.2%.

Telcos also fell hard today, with Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) down 2.4%, Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) down 3.1%, and Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) down 1.8%.

Published by Globes [online], Israel business news - www.globes-online.com - on December 3, 2013

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

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