Wed: El Al declines despite record results

The banks and Phoenix led the market higher today as El Al fell sharply despite reporting the best quarterly financial results in its history.

The Tel Aviv Stock Exchange rose today. The Tel Aviv 35 Index rose 0.25%, to 2,000.67 points; the Tel Aviv 125 Index rose 0.24% to 1,989.86 points; but the BlueTech Global Index fell 0.22% to 433.59 points. The All Bond corporate bond index fell 0.33% to 376.27 points. Turnover totaled NIS 1.87 billion in equities and NIS 7.36 billion in bonds.

On the foreign exchange market, the Bank of Israel set the representative shekel-dollar rate up 0.517% from Tuesday, at NIS 3.694/$, and the representative shekel-euro rate was set 0.198% higher at NIS 4.006/€.

On the market, El Al Israel Airlines Ltd. (TASE:ELAL) fell 3.64% today despite reporting the strongest-ever quarterly results in the company's history. NextVision Stabilized Systems (TASE: NXSN) rose 4.47% and Electra Consumer Products (TASE: ECP) rose 8.54% after announcing it had sold its 7-Eleven stores.

Bank Leumi (TASE:LUMI) led the market today, rising 1.69% on the day's biggest trading turnover. Bank Hapoalim (TASE: POLI) rose 0.74% and Israel Discount Bank (TASE: DSCT) rose 1.06%. Mizrahi Tefahot Bank (TASE: MZTF) rose 2% and First International Bank of Israel (TASE:FTIN1; FTIN5) rose 1.01%. The Phoenix Holdings (TASE: PHOE) rose 2.08% for the biggest rise on the Tel Aviv 35 Index after reportring strong first quarter results.

Azrieli Group (TASE: AZRG) fell 1.18%. NICE Systems Ltd. (Nasdaq: NICE; TASE:NICE) fell 0.44% and ICL (TASE: ICL: NYSE: ICL) fell 1.92%. Energix Renewable Energy Systems (TASE: ENRG) for the biggest fall on the Tel Aviv 35 Index today.

Published by Globes, Israel business news - - on May 29, 2024.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.

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