The Tel Aviv Stock Exchange (TASE) slipped today. The Tel Aviv 25 Index edged down 0.03% to 1,249.98 points, the Tel Aviv 100 Index fell 0.14% to 1,136.67 points, and the BlueTech 50 Index fell 0.82% to 275.29 points. Turnover was NIS 1.08 billion.
The TASE seesawed today to end slightly down across the board, with the exception of the Oil and Gas Index, in a mirror image of yesterday's trading.
In the bond market, both long-term Shahar unlinked government bonds were unchanged and long-term Galil CPI-linked bonds rose by up to 0.1%. The corporate bond benchmark Tel-Bond 20 Index rose 0.09%.
In the foreign currency market, the shekel-dollar representative exchange rate rose 0.09% to NIS 3.472/$, and the shekel-euro representative exchange rate rose 0.63% to NIS 4.949/€.
In the stock market, Israel Corporation (TASE: ILCO) was the focus of attention, falling 2% for the largest loss among Tel Aviv 25 shares on the day's biggest turnover of NIS 97 million. The company has been hit by criticism leveled against its controlling shareholders, Ofer Holdings Group over its conduct in the sale of an oil tanker to Iran.
Leviathan's Israeli partners bounced back from yesterday's falls, after sending out an "all-clear" announcement regarding drilling in the structure. Delek Group Ltd. (TASE: DLEKG) units Avner Oil and Gas LP (TASE: AVNR.L) rose 4.1% and Delek Drilling LP (TASE: DEDR.L) rose 3.6%, while Ratio Oil Exploration (1992) LP (TASE:RATI.L) rose 7%, mostly erasing yesterday's 7% fall. Delek Group rose 3.6%, after publishing its financials.
Bank Hapoalim (TASE: POLI) rose 2.4%, after "Globes" reported that Supervisor of Banks David Zaken has allowed the bank to distribute a dividend. Bank Leumi (TASE: LUMI) rose 1.1%. Mizrahi Tefahot Bank (TASE:MZTF) rose 0.8% on good financials.
Azrieli Group Ltd. (TASE: AZRG) rose 2.1% after winning a tender to build a new Tel Aviv tower with a bid of NIS 522 million.
Also in real estate, Big Shopping Centers (2004) Ltd. (TASE:BIG) rose 4.5%, after announcing that it will distribute NIS 30 million in profits a year. The company today reported a 31% increase in its net profit to NIS 30.1 million. Azorim Investment, Development and Construction Ltd. (TASE: AZRM) rose 1.2%, after announcing a swing to net profit thanks to land sales.
However, Elbit Imaging Ltd. (Nasdaq: EMITF; TASE: EMIT) fell a further 8.5% and its bonds fell by up to 8% as investors worry about the company's debt.
Published by Globes [online], Israel business news - www.globes-online.com - on May 30, 2011
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