TA-25 slides on real estate, banks

The most-active issues were Bank Leumi and Bank Hapoalim, down 1.6% to NIS 16.8 and 1.2% to NIS 20.21, respectively.

By ROBERT DANIEL, MARKETWATCH
December 4, 2006 08:33
2 minute read.

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

MarketWatch: In-depth global business coverage Israeli stocks fell, led lower by the banks and the real estate sector. The Tel Aviv Stock Exchange's benchmark TA-25 index fell 1.33 percent to 917.25, the TA-100 index shed 1.31% to 923.84, and the Tel-Tech 15 index of top technology stocks declined 1.17% to 373.36. The most-active issues were Bank Leumi and Bank Hapoalim, down 1.6% to NIS 16.8 and 1.2% to NIS 20.21, respectively. Together they accounted for 10% of the total TASE volume of $214 million. Ormat Industries was down 1.6% to NIS 46.88. The company said a unit sold 4 million shares of Opti Canada for $69m. and that it would post a fourth-quarter after-tax capital gain of $34m. on the deal. The move cuts its stake in Opti Canada to 5.3% from 7.5%. Ormat plans to use the funds to finance its plan to develop its bio-diesel operations, among other things. The banks helped drag down the Tel Aviv Finance 15 Index by 1.05% to 1,187.47. In addition to Leumi and Hapoalim, First International Bank Issue 5 fell 2.5% to NIS 53.66, Mizrahi-Tefahot, was down 0.2% to NIS 30.91 and Union Bank was off 0.9% at 20.76. The Tel Aviv Real Estate 15 index slumped 2.27% to 665.01, reflecting declines of 4% in Gazit-Globe to NIS 55.28; 2.9% in Jerusalem Economic to NIS 62.81; 2.1% in Delek Real Estate to NIS 35.76; 2% in Africa-Israel Investments to NIS 291.6; and 2.2% in Elbit Imaging - which also has interests in medical scanning equipment - to NIS 128.5. Delek Real Estate said it was in talks to privately place 3% of its shares with the insurer Migdal and 1.9% with the real estate developer Yigal Ahuvi. The placement would be made at market prices, valuing the deal at $50m. The move would lift the company's public share float to more than 20%, putting it in line with TASE rules and ensuring its place on the TA-100 stock index, Delek Real Estate said. Jerusalem Economic said it laid out NIS 366m. to buy 11 properties in Switzerland. The one gainer in the real-estate index was a big one: GTC jumped 5% to NIS 46.19. The company closed the $287m. sale of some properties in Poland to Heitman European Property Partners III Fund and expects a capital gain of $51m. on the deal. The Tel-Tech suffered from drops in Nice Systems, Elbit Systems and Given Imaging. The dollar weakened on Friday 0.31% to NIS 4.234 shekels. MarketWatch: In-depth global business coverage

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection

By GLOBES, NIV ELIS