Tue: Teva leads market gains

Teva rose on the day's biggest turnover, but Israel Chemicals recorded the biggest loss on the Tel Aviv 25 Index.

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.71% to 1,328.99 points, the Tel Aviv 100 Index rose 0.92% to 1,218.65 points, and the BlueTech 50 Index rose 1.33% to 353.33 points. Turnover was NIS 1.53 billion.

A TASE rebounded strongly today, 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 3.501/$, down 0.03% on yesterday's rate, and set the shekel-euro representative exchange rate at NIS 4.777/€, up 0.18%.

In the bond market, both long-term Shahar unlinked shekel government bonds and long term Galil CPI-linked government bonds rose. The corporate bond benchmark Tel-Bond 20 Index rose 0.05%.

In the stock market, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) rose 1.1% on the day's biggest turnover of NIS 108.7 million, amid reports that the board was poised to name Erez Vigodman as the next CEO.

Israel Chemicals Ltd. (TASE: ICL) fell 1.4%, for the biggest loss among Tel Aviv 25 shares, and parent company Israel Corporation (TASE: ILCO) fell 0.5%. Israel Discount Bank (TASE: DSCT) rose 2.6% for the biggest gain on the index.

On the Tel Aviv 100 Index, Compugen Ltd. (Nasdaq: CGEN; TASE: CGEN) rose 3.4%, after announcing that it was greatly expanding its immune-oncology R&D program. Pluristem Therapeutics Ltd. (Nasdaq:PSTI; TASE: PLTR) rose 7.7%, after publishing an update on a clinical trial Allot Communications Ltd. (Nasdaq:ALLT; TASE: ALLT) rose 3.1% on a $4 million follow-on deal in Europe. Africa-Israel Investments Ltd. (TASE:AFIL) rose 4.4%, on top of last week's 23% gain.

Elsewhere in the market, IDB Holding Corp. Ltd. (TASE:IDBH) fell 53.7%, after its new controlling shareholders appointed a chairman for its operational subsidiary, IDB Development Corporation.

Small-cap Biocancell Therapeutics Ltd. (TASE:BICL) and InsuLine Medical Ltd. (TASE: INSL) rose 0.3% and 1.1%, respectively, after announcing rights issues.

Published by Globes [online], Israel business news - www.globes-online.com - on January 7, 2014

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

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