Thu: Strong banks lead TASE rally

Despite the continued rocket fire on Israel, the main market indices rose today, leaving the Tel Aviv 35 Index down just 0.5% for the week.

Despite continued violence between Israel and Hamas, the Tel Aviv Stock Exchange rose today. Investors may have been encouraged by early rises in New York after three days of losses. The Tel Aviv 35 Index rose 1.07%, to 1,640.62 points; the Tel Aviv 125 Index rose 0.81%, to 1,711.01 points; and the BlueTech Global Index rose 0.43%, to 556.94 points. The TelBond 20 corporate bond index rose 0.41%, to 387.29 points. Turnover totaled NIS 1.81 billion in equities and NIS 3.69 billion in bonds.

For the week, the Tel Aviv 35 Index fell 0.5%. The index is up 9.4% for the year to date.

On the foreign exchange market, the representative shekel-dollar rate was set 0.52% higher, at NIS 3.2960/$, and the representative shekel-euro rate was set 0.05% higher, at NIS 3.9764/€.

Bank Hapoalim, which reported first quarter results today, led trading, and rose 1.31%. Bank Leumi rose 2.76%; Nice Systems, which also reported today, posting 11% quarterly revenue growth, rose 0.41%; Perrigo fell 0.07%; and Discount Bank rose 3.14%.

Compugen, another company that reported first quarter results today, posting a narrower loss than in the corresponding quarter, rose 10.35%, and Tower Semiconductor, which reported 16% growth in first quarter revenue yesterday and guided to record second quarter revenue, rose 5.27%, after falling 7.53% yesterday.

Published by Globes, Israel business news - - on May 13, 2021

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