Tue: Telco stocks buck market

Bezeq, Cellcom and Partner rose strongly today but Teva led the market down.

The Tel Aviv Stock Exchange fell today. The Tel Aviv 35 Index fell 0.21%, to 1,898.76 points; the Tel Aviv 125 Index fell 0.26%, to 1,986.84 points; and the BlueTech Global Index fell 1.26% to 575.61 points. The All Bond corporate bond index rose 0.15% to 395.13 points. Turnover totaled NIS 1.73 billion in equities and NIS 4.07 billion in bonds.

On the foreign exchange market, the Bank of Israel set the representative shekel-dollar rate down 0.387% from Monday, at NIS 3.090/$, and the representative shekel-euro rate was set 0.26% lower at NIS 3.514/€.

Bank Leumi (TASE:LUMI) led the market today, falling 1.36%, on the day's biggest trading turnover, despite reporting strong financial results for the third quarter of 2021. Bank Hapoalim (TASE: POLI) fell 1.77%, Israel Discount Bank (TASE: DSCT) fell 0.47% and Mizrahi Tefahot Bank (TASE:MZTF) fell 0.44%. Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 3.60% for the biggest fall on the Tel Aviv 35 Index, and NICE Systems Ltd. (Nasdaq: NICE; TASE:NICE) fell 1.88%.

Telco stocks rose strongly today. Outside of the Tel Aviv 35 Index Cellcom Israel Ltd. (OTC:CEL; TASE:CEL) rose 8.2% after reporting strong third quarter results and Partner Communications Co. Ltd. (Nasdaq: PTNR; TASE: PTNR) rose 4.11%. Bezeq Israel Telecommunications Company Ltd. (TASE:BZEQ) rose 7.74% for the biggest rise on the Tel Aviv 35 Index after raising its profit guidance.

ICL (TASE: ICL: NYSE: ICL) rose 2.29% and parent company Israel Corp. (TASE: ILCO) rose 2.70%. Azrieli Group (TASE: AZRG) rose 1.29% and Melisron Ltd. (TASE: MLSR) rose 3.15%.

Published by Globes, Israel business news - en.globes.co.il - on November 16, 2021.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2021.

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