Wed: Telecom stocks lead TASE higher

Bezeq, Cellcom and Partner led the market today but Gilat fell on news of its acquisition.

The main indices on the Tel Aviv Stock Exchange rose today. The Tel Aviv 35 Index rose 0.28% to 1,701.33 points, the Tel Aviv 125 Index rose 0.36% to 1,643.28 points and the BlueTech Global Index rose 0.57% to 422.92 points. The TelBond 20 corporate bond index fell 0.02% to 368.47 points. Turnover totaled NIS 1.87 billion in equities and NIS 3.44 billion in bonds.

On the foreign exchange market today, the Bank of Israel set the representative shekel-dollar rate up 0.087% from Tuesday at NIS 3.458/$, and the representative shekel-euro rate was set up 0.047% at NIS 3.804/€.

On the market, telcos led the rises. Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) rose 3.85%, Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) rose 4.61% following an offer to purchase 100% of its shares by Hot and Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) rose 4.63%. Israel Chemicals (TASE: ICL: NYSE: ICL) rose 4.10% for the biggest rise on the Tel Aviv 35 Index. NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) rose 1.12%, Bank Leumi (TASE: LUMI) rose 0.74% and Bank Hapoalim (TASE: POLI) rose 0.62%.

Paz Oil Company Ltd. (TASE:PZOL) fell 2.58% for the biggest fall on the Tel Aviv 35 Index today. Opko Health Inc. (NYSE: OPK; TASE: OPK) fell 2.14% and Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 0.20% on the day's biggest trading turnover. Israel Discount Bank (TASE: DSCT) fell 0.58%.

Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT) fell 6.62% on the new it is being acquired by Comtech and Ham-Let (Israel-Canada) Ltd. (TASE: HAML) fell 3.12% on the news that its Chinese factory is shut down due to the coronavirus epidemic.

Published by Globes, Israel business news - en.globes.co.il - on January 29, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

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