Tue: Gas partners plunge and pull down TASE

Delek and its Leviathan and Tamar partners fell heavily on news that ownership of the fields must be split. Leumi rose strongly.

The Tel Aviv Stock Exchange (TASE) fell today following the Antitrust Authority's decision to split ownership of Tamar and Leviathan. The Tel Aviv 25 Index fell 0.90% to 1,467.76 points, the Tel Aviv 100 Index fell 1.05% to 1,297.63 points, and the BlueTech 50 Index fell 0.18% to 323.72 points. Turnover was NIS 1.78 billion.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.914/$, down 0.229% on yesterday's rate, and set the shekel-euro representative exchange rate at NIS 4.786/€, down 0.551%.

In the bond market, both long-term Shahar unlinked shekel government bonds and long term Galil CPI-linked government bonds fell. The corporate bond benchmark Tel-Bond 20 Index fell 0.18%.

In the stock market, Delek Group Ltd. (TASE: DLEKG) fell 16.5% for the largest fall on the Tel Aviv 25 Index following the antitrust order to sell either its Leviathan or Tamar holdings. Delek's energy exploration units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling Limited Partnership (TASE: DEDR.L) fell 11.75% and 12.73% respectively. Tamar partner Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) fell 7.44% on the day's largest turnover, and Leviathan partner Ratio Oil Exploration (1992) LP (TASE:RATI.L) fell 16.9%.

Elsewhere in the market Bank Leumi (TASE: LUMI) rose 3.92% for the largest rise on the Tel Aviv 25 Index after the US authorities confirmed the bank had been fined $400 million for helping US customers to evade US taxes. Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) rose 1.69% on a Brazilian deal and Frutarom Industries Ltd. (TASE: FRUT; LSE:FRUT; OTCBB:FRUTF) rose 2.52% after acquiring a Slovenian company. But Perrigo Company (NYSE:PRGO; TASE:PRGO) fell 2.34%.

Published by Globes [online], Israel business news - www.globes-online.com - on December 23, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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