TASE trading closed today on slight advances. The Tel Aviv 100 index rose 0.42% to 289.46 points. The Maof index rose 0.49% to 297.66 points. Turnover amounted to NIS 182 million.
TASE trading was fickle again today. Leading indices swung pendulum-like between slight advances and moderate declines, with the end-of-the-day balance tipping in a positive direction. Overall trading turnover rose 0.4%, totalling NIS 180 million. The bank shares still gave a relatively weak showing: Bank Hapoalim shares, which yesterday fell 2.8%, achieved something of a correction following the blow dealt by the UBS downgrade recommendation. Bank Leumi kept up its steady decline.
Capital market players emphasised that the stock market showed its strength today in view of the severe crisis overtaking the Netanyahu government; the uncertainty as to the future of the post of Minister of Finance, in view of Yaakov Neeman’s intended resignation; and the possibility of elections being brought forward. All this, of course, is in addition to the absence of any breakthrough in the political process, and the economic recession.
A balancing factor, on the other hand, is the optimism on world markets, which today overtook the principal stock exchanges of Europe (3% advances in Frankfurt, 2.5% in Amsterdam) and also extends to the United States, despite the impeachment process against President Clinton.
Apropos globalisation, the day the representatives of Canada’s Potash arrived in Israel for a visit, Israel Chemicals shares posted a large turnover of NIS 13.2 million, rising 0.8%. The capital market in general, and ICL in particular, are impatiently awaiting the visit of the representatives of this company, which purchased 9% of ICL’s share in the issue. The Canadians are believed to have peaceful intentions.
Published by Israel's Business Arena December 16, 1998
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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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