Sun: TASE hits three-year high

Sodastream and the big banks helped push the Tel Aviv 35 Index above 1,600 points.

The Tel Aviv Stock Exchange rose today, hitting a three-year high. The Tel Aviv 35 Index rose 1.69% to 1,604.70 points; the Tel Aviv 125 Index rose 1.55% to 1,429.22 points; and the BlueTech Global Index rose 1.41% to 374.79 points. The TelBond 20 corporate bond index rose 0.25% to 346.88 points. Trading turnover was NIS 648.9 million.

On the foreign currency market, the Bank of Israel set the shekel-dollar representative rate up 0.298% at NIS 3.700/$ on Friday and set the shekel-euro rate down 0.107% at 4.2795/€.

The market was boosted by sharp rises on world markets on Friday and S&P's decision to raise Israel's credit rating to AA-. On the market, Sodastream International Ltd. (Nasdaq: SODA; TASE: SODA) rose 6.57% for the biggest rise on the Tel Aviv 35 Index. Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) rose 2.38% and Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) rose 1.14%, clawing back a small amount of Thursday's losses after publication of its second quarter results. Frutarom Industries Ltd. (TASE: FRUT; LSE:FRUT; OTCBB:FRUTF) rose 1.91%.

Bank Hapoalim (TASE: POLI) rose 1.87%, Bank Leumi (TASE: LUMI) rose 1.27%, Israel Discount Bank (TASE: DSCT) rose 1.76% and Mizrahi Tefahot Bank (TASE:MZTF) rose 2.06%.

Published by Globes [online], Israel business news - www.globes-online.com - on August 5, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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