Wed: Telcos tank, dragging down TASE

Bezeq, Cellcom and Partner plunged today but Melisron and Leumi bucked the market.

The Tel Aviv Stock Exchange fell today. The Tel Aviv 35 Index fell 0.32% to 1,551.10 points; the Tel Aviv 125 Index fell 0.38% to 1,419.08 points; and the BlueTech Global Index fell 0.06% to 384.59 points. The TelBond 20 corporate bond index fell 0.07% to 354.68 points. Trading turnover was NIS 1.13 billion.

On the foreign currency market, the Bank of Israel set the shekel-dollar representative rate up 0.055% at NIS 3.608/$ from Tuesday's rate and set the shekel-euro rate up 0.161% at 4.099/€.

On the market, Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) fell 7.1% after parent company B Communications Ltd. (Nasdaq:BCOM; TASE: BCOM), which fell 41.56%, announced it would halt paying back its debt. Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) fell 8.48% for the biggest fall on the Tel Aviv 35 Index today and Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) fell 5.64%. Israel Chemicals (TASE: ICL: NYSE: ICL) fell 1.11% and Israel Discount Bank (TASE: DSCT) fell 0.93%, on the day's biggest trading turnover.

Melisron Ltd. (TASE: MLSR) rose 3.72% for the biggest rise on the Tel Aviv 35 Index today. Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) rose 0.73%, Bank Leumi (TASE: LUMI) rose 1.25% and Bank Hapoalim (TASE: POLI) rose 0.60%.

Published by Globes, Israel business news - en.globes.co.il - on March 20, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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