The TA-25 Index climbed for the first time this week, increasing
8.65, or 0.9 percent, to 965.98 at the close in Tel Aviv. Investors
traded about NIS 1.46 billion in shares and convertible securities.
Africa Israel Investments
, the real-estate developer owned by
Lev Leviev, climbed from a five-month low, advancing 1.5%. AFI
Development, the company's Russian property arm, was initiated with a
"buy" recommendation at Bank of America
Biondvax Pharmaceuticals, the maker of intranasal
flu vaccines, rose 8.3%. The Health Ministry approved the first and
second stages of a clinical trial for the company's international flu
vaccine among patients aged 55 to 75.
Brainsway advanced 2%. The biopharmaceutical company received
approval from the Italian Health Ministry to sell its Deep TMS device
for treating depression.
Menorah Mivtachim Holdings declined the most in
six months, sliding 7.9%. The insurer said the insurance supervisor
planned to investigate backdated investments at the company's unit.
Closed for Labor Day.
European stocks rose for a third day as a resurgence of merger
speculation boosted food and beverage stocks and mining companies and
the Group of 20 nations agreed on steps to shore up the global
Cadbury, the world's largest confectioner, jumped 38% after
rejecting a $16.7b. offer from Kraft Foods. Mergers and acquisitions
are recovering amid signs the worst recession since World War II is
easing. Last week, Baker Hughes, the third-largest oilfield-services
provider, agreed to buy BJ Services for $5.5b., and Walt Disney said it
would purchase Marvel Entertainment for about $4b.
National benchmark indexes rose in all of the 18 western European markets. The UK's FTSE 100 advanced 1.7% to 4,933.18.
Asian stocks rose, giving the MSCI Asia Pacific Index its
biggest advance in two weeks, as the Group of 20 nations agreed on
steps to shore up the financial system, while merger speculation
boosted technology shares.
Japan's Nikkei 225 Stock Average climbed 1.3% to 10,320.94.
China's Shanghai Composite Index gained 0.7% after the government
raised the amount foreign funds can invest in equities. Hong Kong's
Hang Seng Index advanced 1.5%.
The shekel weakened from an almost nine-month high against the
dollar as traders increased bets the Bank of Israel will buy dollars to
limit the currency's gains.
The shekel dropped as much as 0.6% and was down 0.4% at 3.7569
per dollar at 4:56 p.m. in Tel Aviv, versus 3.7425 per dollar on
Friday, its strongest level since December 18.
The dollar weakened to $1.4330 per euro as of 6:10 p.m. in London, from $1.4297 on Friday.
Oil was little changed near $68 a barrel as the US driving
season wound down and the profit margin for turning crude into gasoline
and distillate fuels declined, further depressing demand.
Crude oil for October delivery rose 11 cents, or 0.2%, to
$68.13 a barrel at 12:23 p.m. local time in electronic trading on the
New York Mercantile Exchange.
Immediate-delivery bullion added 79 cents, or 0.1%, to $995.19
an ounce by 4:52 p.m. in London. December gold futures slipped 10 cents
to $996.60 an ounce in electronic trading on the New York Mercantile
Exchange's Comex division. Comex floor trading in New York and Chicago
was closed for Labor Day.