Tue: Biomed Index jumps 2.7% on launch

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.73% to 1,195.72 points, the Tel Aviv 100 Index rose 0.74% to 1,124.31 points, and the Tel-Tech Index rose 1.32% to 265.59 points. Turnover was NIS 2.03 billion.

The TASE continued to climb today, and is now only 3.3% below its all-time time high reached in 2007. The gains were in line with yesterday's rises on Wall Street, and today's gains in Asian and European markets, while futures contract on Wall Street pointed to further gains, which materialized.

On the domestic scene, the Consumer Confidence Index, published today by Bank Hapoalim and TNS, rose 0.8% to 134.9 points. The index has been stable since August, which the bank says is in line with economic growth, and especially with the increase in jobs since mid-2009.

Long-term Shahar unlinked government bonds rose by up to 0.1%, while long-term Galil CPI-linked bonds ranged between losses of 0.1% and gains of 0.1%. The corporate bond benchmark Tel-Bond 20 Index rose 0.32%.

In the foreign currency market, the shekel-dollar representative exchange rate fell 0.24% to NIS 3.787/$, and the shekel-euro representative exchange rate fell 0.32% to NIS 5.135/�.

In the stock market, the Biomed 25 Index rose 2.7% in its inaugural session. Most of the stocks rose today, even without announcements by the companies. Index heavyweight Compugen Ltd. (Nasdaq: CGEN; TASE: CGEN) led the way up with a gain of 9.8%. The index's other top stocks Given Imaging Ltd. (Nasdaq: GIVN; TASE: GIVN) rose 1.9% and Kamada Ltd. (TASE: KMDA) was one of the exceptions, with a drop of 0.5%.

BiolineRX Ltd. (TASE:BLRX) rose 6%, Mazor Surgical Technologies Ltd. (TASE:MZOR) rose 5.2%, and Itamar Medical Ltd. (TASE:ITMR) rose 5%.

Clal Biotechnology Industries Ltd. (TASE: CBI) rose another 4.8% after yesterday's gain of 7.2%, following its deal to merge with Biomedical Investments Ltd.

Banks led the gains on the Tel Aviv 25 Index today. Israel Discount Bank (TASE: DSCT) rose 2.6%, Bank Leumi (TASE: LUMI) rose 2.4%, and Mizrahi Tefahot Bank (TASE:MZTF) rose 2%. Bank Hapoalim (TASE: POLI) had to be satisfied with a rise of 0.6%. The Banking Index rose 1.7%.

Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) was the big loser among Tel Aviv 25 shares, falling 1.4% after publishing its financial report for 2009.

The Real Estate 15 Index rose 0.3%, led by a 2.5% rise by Amot Investments Ltd. (TASE:AMOT) and 2.4% rise by Nitsba Holdings Ltd. (TASE: NTBA). Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY) rose 1.3% but subsidiary Africa-Israel Properties Ltd. (TASE: AFPR) fell 1.2%, after yesterday's meeting with bondholders reached a deal.

Published by Globes [online], Israel business news - www.globes-online.com - on March 2, 2010

Tue: Biomed Index jumps 2.7% on launch

Biomed companies helped lift the TASE today, as Given Imaging rose, and Compugen, Clal Biotech, and BiolineRX soared. Kamada was one of the few biomed party-poopers.