Sun: Leviathan partners lift market

Delek and its energy units, and Ratio, rose on reports of a Palestinian natural gas export deal.

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index edged up 0.07% to 1,323.43 points, the Tel Aviv 100 Index rose 0.26% to 1,208.73 points, and the BlueTech 50 Index rose 0.97% to 343.62 points. Turnover was NIS 620.4 million.

The TASE rose today, in line with gains on European markets and despite mixed trading on Wall Street on Friday.

In the foreign currency market, the options pointed to a 0.03% dip in the shekel-dollar exchange rate, compared with Friday's representative rate, to NIS 3.503/$ and to a 0.31% drop in the shekel-euro exchange rate to NIS 4.763/€.

In the bond market, long-term Shahar unlinked shekel government and long term Galil CPI-linked government rose. The corporate bond benchmark Tel-Bond 20 Index rose 0.22%

In the stock market, Leviathan partners Delek Group Ltd. (TASE: DLEKG) rose 1.1% and its energy exploration units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) rose 0.8% and 0.3%, respectively, while Ratio Oil Exploration (1992) LP (TASE:RATI.L) rose 2.6%, before trading in their shares was suspended shortly before the market closed ahead of their announcement of a gas export deal with the Palestinians.

Opko Health Inc. (NYSE: OPK; TASE: OPK) rose 2% for the biggest gain among Tel Aviv 25 shares, but Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 1.2%. Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) fell 1.8% for the biggest loss on the index.

Bank Hapoalim (TASE: POLI) fell 0.8% on the day's biggest turnover of NIS 38.7 million, and Bank Leumi (TASE: LUMI) fell 0.1%.

Paz Oil Company Ltd. (TASE:PZOL) rose 1%, after announcing a NIS 250 million dividend.

Elsewhere in the market, IDB Holding Corp. Ltd. (TASE:IDBH) rose 18.9%, after the Tel Aviv District Court reaffirmed its decision to transfer control of the company to Eduardo Elsztain and Moti Ben-Moshe.

Published by Globes [online], Israel business news - www.globes-online.com - on January 5, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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