Sun: Delek unit merger talks boost TASE

Israel Corp. and ICL led the TASE high with Delek and its energy units also among the big gainers.

The Tel Aviv Stock Exchange rose today on very thin trading. The Tel Aviv 25 Index rose 1.14% to 1,472.97 points; the Tel Aviv 100 Index rose 1.04%, to 1,287.99 points; and the BlueTech Index rose 1.59% to 353.91 points. The TelBond 20 corporate bond index was unchanged at 321.89 points. Trading turnover was NIS 457.9 million.

On the foreign currency market, the Bank of Israel set the shekel-dollar representative rate down 0.131 on Friday at NIS 3.821/$, and the representative shekel-euro rate was set down 0.068% at NIS 4.255/€.

On the market, Israel Chemicals (TASE: ICL: NYSE: ICL) rose 2.14% and parent company Israel Corporation (TASE: ILCO) rose 4.51% for the biggest rise on the Tel Aviv 25 Index. Frutarom Industries Ltd. (TASE: FRUT; LSE:FRUT; OTCBB:FRUTF) rose 3.48% and Opko Health Inc. (NYSE: OPK; TASE: OPK) rose 2.50%.

Delek Group Ltd. (TASE: DLEKG) rose 2.35% on confirmation that its energy exploration units are set to merge. Those units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) rose 3.30% and 1.09% respectively.

Only two shares on the Tel Aviv 25 Index fell today. Perrigo Company (NYSE:PRGO; TASE:PRGO) fell 0.19% and Mylan N.V. (Nasdaq: MYL; TASE: MYL) fell 0.32%.

Published by Globes [online], Israel business news - www.globes-online.com - on August 7, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

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