Today’s Tel Aviv Stock Exchange trading was uneventful. The Tel Aviv 100 index fell 2.04% to 294.88 points; the Maof index was down 2.15% to 302.27 points. Total turnover amounted to NIS 133 million.
Today’s highest turnover was attracted by Israel Corporation 1 shares. Control in this company was sold to the Ofer family. Transfer of the controlling interest has not yet taken place, and the share meanwhile traded on an exceptional turnover of NIS 8.7 million, sliding 1.8%. The shares of subsidiary company Israel Chemicals, which only a week or two ago were attracting high turnovers, have meanwhile settled down, posting a turnover of NIS 6.1 million today, on a 1.6% decline.
Nice and Blue Square - Maof risers
One of the only two Maof shares to post advances today was Nice. This was due to the strength demonstrated by the share at the end of the week on Wall Street. Nice closed on Friday at a price of $25, equivalent to NIS 102; on the TASE, Nice rose 1.7% to NIS 100.6 - meaning that the arbitrage gap was not completely closed. Turnover in Nice was exceptional too, amounting to NIS 8.7 million, second highest on the market today.
Nice was the only arbitrage share in which the gap between Tel Aviv and Wall Street was a positive one. The other arbitrage shares posted a negative gap, naturally provoking downturns in line with the general market trend. Teva, for example, opened the trading day on a negative gap of 4.3% and responded with a 4.1% downslide, on a turnover of NIS 4.2 million.
The second Maof share to rise was Blue Square Properties, which added 1.6% to its price on a turnover of NIS 2.3 million. It did so in spite of the Hold recommendation published for the share by the Gmul Sahar brokerage firm. Analyst Avner Ben Yeshaya notes that the near future does not hold out any great prospect of growth for marketing chain-stores’ profits.
Published by Israel's Business Arena January 24, 1999
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Israel business stocks shares TASE quotes quotations
Israel business stocks shares TASE quotes quotations
Israel business stocks shares TASE quotes quotations
Israel business stocks shares TASE quotes quotations
Israel business stocks shares TASE quotes quotations
Israel business stocks shares TASE quotes quotations
Israel business stocks shares TASE quotes quotations
Israel business stocks shares TASE quotes quotations
Israel business stocks shares TASE quotes quotations
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