Mon: Cellcom, Partner boosted by Xfone default

Cellcom confirmed today that Xfone was in arrears in payments for using its network. The banks again led the main indices higher.

The Tel Aviv Stock Exchange rose today. The Tel Aviv 35 Index rose 0.46%, to 1,433.03 points; the Tel Aviv 125 Index rose 0.6%, to 1,478.46 points; and the BlueTech Global Index rose 0.33%, to 503.28 points. The TelBond 20 corporate bond index rose 0.29%, to 361.18 points. Turnover totaled NIS 2.02 billion in equities and NIS 3.74 billion in bonds.

On the foreign exchange market, the representative shekel-dollar rate was set 0.18% lower, at NIS 3.3560/$, and the representative shekel-euro rate was set 0.02% higher, at NIS 3.9737/€.

Bank Leumi led trading today, and rose 0.57%. Bank Hapoalim rose 0.19%; Discount Bank was flat; Nice Systems fell 2.72%; and Fattal Hotels rose 2.57%.

Telecommunications companies Cellcom and Partner both rose strongly, by 13.43% and 7.03%, amid signs of financial difficulties at rival Xfone. Cellcom confirmed today that Xfone had not met the monthly payment due for using Cellcom's network. Energean rose 8.38%; Magic Software rose 8.32%; and Sella Capital Real estate rose 8.10% on the report of a takeover bid by Mivneh.

Published by Globes, Israel business news - - on November 16, 2020

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