TA-25 gains 0.5% despite rockets from Gaza
Foreign markets and Greek debt plans seem more important than local news.
By Dror Reich
Stocks rose to open the trading week on
Sunday on the Tel Aviv Stock Exchange. The day started with big gains of
over 1%, reflecting the trend in world markets at the end of last week
after the Greek debt restructuring plan was approved before the
deadline. But the local news of the rocket attacks in the south turned
the TASE around near midday, with mild losses of up to 0.3%, though the
market recovered near the end of trading to close up.
The TASE was closed last Thursday for the Purim holiday.
The blue chip TA-25 index rose 0.5% to end the day at 1,085 points,
while the broader TA-100 index gained 0.6% to close at 994 points.
All the major indexes were well in the green, except for the Real Estate-15 and TA-Banks indexes, which both ended the day unchanged.
The BlueTech-50 index climbed 1.9% despite the escalation with Hamas in Gaza, and the Biomed index rose 0.8%. The Oil and Gas Exploration index rose 0.9%, and the TA-Insurance index fell 1.5%.
Large-cap corporate bonds were unchanged, while government bonds were down slightly by up to 0.2%.
Turnover was quite thin, at NIS 622 million, though higher than the anemic lows of a week ago.
Due to the Purim holiday, no representative rates for foreign currency have been set by the Bank of Israel since last Wednesday, and the central bank also does not set official rates on Sunday. But forex options trading Sunday reflected a 0.6% drop in both the euro and the dollar against the shekel, down to NIS 4.97 and NIS 3.78 respectively.
Among the shares that stood out on Sunday - for the good - were Israel Chemicals, up 3%; Union Banks, up 4.4% on news that one of its owners, Shlomo Eliahu, was buying Migdal Insurance (See story on Page 8 ); and Ratio Oil Exploration, which gained 4%.
On the down side were Super-Sol, losing 2.3% of its value; Hot Telecom, which fell 3%; and Cellcom, which dropped another 1.6% and has now lost 22% of its value since the beginning of the year.
Partner lost 1.8% and First International Bank of Israel fell 2.2%.
The TASE was closed last Thursday for the Purim holiday.
All the major indexes were well in the green, except for the Real Estate-15 and TA-Banks indexes, which both ended the day unchanged.
The BlueTech-50 index climbed 1.9% despite the escalation with Hamas in Gaza, and the Biomed index rose 0.8%. The Oil and Gas Exploration index rose 0.9%, and the TA-Insurance index fell 1.5%.
Large-cap corporate bonds were unchanged, while government bonds were down slightly by up to 0.2%.
Turnover was quite thin, at NIS 622 million, though higher than the anemic lows of a week ago.
Due to the Purim holiday, no representative rates for foreign currency have been set by the Bank of Israel since last Wednesday, and the central bank also does not set official rates on Sunday. But forex options trading Sunday reflected a 0.6% drop in both the euro and the dollar against the shekel, down to NIS 4.97 and NIS 3.78 respectively.
Among the shares that stood out on Sunday - for the good - were Israel Chemicals, up 3%; Union Banks, up 4.4% on news that one of its owners, Shlomo Eliahu, was buying Migdal Insurance (See story on Page 8 ); and Ratio Oil Exploration, which gained 4%.
On the down side were Super-Sol, losing 2.3% of its value; Hot Telecom, which fell 3%; and Cellcom, which dropped another 1.6% and has now lost 22% of its value since the beginning of the year.
Partner lost 1.8% and First International Bank of Israel fell 2.2%.
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