The TASE fell sharply across the board, except for the Communications Index, after a mixed day on Wall Street on Friday. The TASE was weighed down by the rocket attacks in the south, and the waning of the euphoria from last week's EU summit to tackle the eurozone debt crisis.
In the bond market, long-term Shahar unlinked government bonds were unchanged and long-term Galil CPI-linked bonds ranged between losses of 0.1% and gains of 0.3%. The corporate bond benchmark Tel-Bond 20 Index fell 0.43%.
In the foreign currency market, options point to a 0.23% drop in the shekel-dollar exchange rate, compared with Friday's representative rate, to NIS 3.594/$, and a 0.25% drop in the shekel-euro exchange rate to NIS 5.097/€.
In the stock market, Perrigo Company (Nasdaq:PRGO; TASE:PRGO) fell 6% for the biggest drop among Tel Aviv 25 shares, after falling 9% on Thursday and Friday on Nasdaq, following the publication of its financial report for the first fiscal quarter of 2012.
Bank Leumi (TASE: LUMI) fell 2.3% and Bank Hapoalim (TASE: POLI) fell 4.1%, on the day's largest turnover of NIS 71 million, dragging down the Banking Index by 3.1%. In a review of the banking sector Psagot Investment House Ltd. said, "The increase in the banks' core capital is affecting their pricing." It cut its recommendations for the banks to "Hold", with the exceptions of Bank Hapoalim and Mizrahi Tefahot Bank (TASE:MZTF).
Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) bucked the market with a 4.8% rise, without any announcement. Its parent company Scailex Corporation (TASE: SCIX; Pink Sheets:SCIXF) rose 5.3%. Rival Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) rose 0.7%.
Israel Corporation (TASE: ILCO) fell 2.3% to NIS 2,750. Migdal Capital Markets cut its recommendation for the share from "Buy" to "Hold", and cut its target price by 25% to NIS 4,041.
Real estate developer Elbit Imaging Ltd. (Nasdaq: EMITF; TASE: EMIT) continued its climb, rising another 8.4% today, after rising 80% last week.
Kamor Motors Ltd. (TASE: KMRS) rose 12.9%, correcting from Thursday's 25.2% drop, after the Antitrust Authority implied that its acquisition by Delek Automotive Systems Ltd. (TASE: DLEA) might not be approved. Delek Auto rose 2.1%.
No comments:
Post a Comment