The Tel Aviv Stock Exchange (TASE) was flat today. The Tel Aviv 25 Index was unchanged at 1,111.97 points, the Tel Aviv 100 Index edged down 0.17% to 1,007.18 points, and the BlueTech 50 Index fell 0.32% to 274.25 points. Turnover was NIS 987.5 million.
The TASE opened late today at 10:00 am, because of the general strike, and closed late, at 5:00 pm, to partly make up. Today's trading took place amid more market jitters in Europe, this time focused on Italy, and reports that Prime Minister Silvio Berlusconi will resign soon amid worries about the country's debt.
In the bond market, long-term Shahar unlinked government bonds fell by up to 0.3%, and long-term Galil CPI-linked bonds ranged between losses of 0.1% and gains of 0.2%. The corporate bond benchmark Tel-Bond 20 Index fell 0.28%.
In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.682/$, up 0.46% on yesterday's rate, and set the shekel-euro representative exchange rate at NIS 5.064/€, down 0.23%.
In the stock market, gas exploration companies continued yesterday's gains. Tamar and Leviathan partners Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) rose 3.2% and 2.4%, respectively, and their parent company Delek Group Ltd. (TASE: DLEKG) rose 2.8%. Their Tamar partner Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) fell 0.5%, and their Leviathan partner Ratio Oil Exploration (1992) LP (TASE:RATI.L) was unchanged.
Banks were mixed, with Bank Hapoalim (TASE: POLI) up 0.8% on the day's largest turnover of NIS 59 million, but Bank Leumi (TASE: LUMI) fell 0.1%. Psagot Investment House Ltd. today predicted that the banks will report poor financial reports for the third quarter.
Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) and Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) both fell 2% today and Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) fell 1%. Meitav Investment House Ltd. today gave "Market perform" recommendations for all three telecommunications companies, while Harel Finance gave Bezeq an "Outperform" recommendation with a target price of NIS 8.20.
Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) rose 0.3%. The company filed a prospectus with the US Securities and Exchange Commission (SEC) to raise over $4 billion in debt.
Strauss Group Ltd. (TASE:STRS) rose 2.3% after confirming reports that subsidiary Strauss Water it is talks with Virgin Group on a joint venture in the UK.
Real estate developer Elbit Imaging Ltd. (Nasdaq: EMITF; TASE: EMIT) continued its slide, falling another 7%, after falling 5.6% yesterday after Midroog Ltd. downgraded the company's bonds from A3 to Baa1.
Published by Globes [online], Israel business news - www.globes-online.com - on November 7, 2011
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