TA 25 falls as energy stocks drop

The Tel Aviv 25 Index fell 1.49 percent to 1,273.97 points and the Tel Aviv 100 Index fell 1.46% to 1,156.12 points. Turnover was NIS 821 million.

traders watching stocks (photo credit: Rafael Marchante/Reuters)
traders watching stocks
(photo credit: Rafael Marchante/Reuters)
The Tel Aviv Stock Exchange (TASE) fell today.
The Tel Aviv 25 Index fell 1.49 percent to 1,273.97 points and the Tel Aviv 100 Index fell 1.46% to 1,156.12 points. Turnover was NIS 821 million.
In the bond market, long-term Shahar unlinked bonds rose by up to 0.1% and long-term Galil CPI-linked bonds rose by up to 0.2%. The Tel-Bond 60 Index fell 0.1%.
In the foreign currency market, options pointed to no change in the shekel-dollar exchange rate NIS 3.474/$, but a 1.13% drop in the shekel-euro exchange rate to NIS 4.919/euro.
In the stock market, energy companies took center stage after Oil Refineries Ltd. announced a natural gas supply deal with Yam Tethys, owned by Noble Energy Inc. and Delek Group Ltd. Oil Refineries fell 1.6%, Delek Group fell 2.2%, and its units Avner Oil and Gas LP rose 0.3%, while Delek Drilling LP fell 0.9%. Their partner in Tamar, Isramco Ltd., rose 1.4%.
Oil Refineries’ parent company, Israel Corporation fell 2%, while another subsidiary, Israel Chemicals Ltd., fell 2.4% on the day’s largest turnover of NIS 60 million.
Paz Oil Company Ltd. fell 1% ahead of the publication of its first quarter financial reports.

Elbit Systems Ltd. fell 2.2% to NIS 177.10. Migdal Capital Markets today reiterated its “Buy” recommendation, but cut its target price for the share to NIS 211.
In real estate, Elbit Imaging Ltd. fell 8.5% during the session before ending day down 1%. Market sources attributed the drop to short deals in the share. The company’s bonds also fell sharply.
HOT Telecommunication Systems Ltd. rose 1.3% to NIS 64.14. Clal Finance Ltd. reiterated its “Outperform” recommendation and raised its target price to NIS 75 from NIS 67.