Stocks: TA-25 sets new record

Israeli stocks rose, pushing the Tel Aviv Stock Exchange's TA-25 benchmark index past the 900-point level to a new record, led by a strong performance by the country's banks.

MarketWatch: In-depth global business coverage Israeli stocks rose, pushing the Tel Aviv Stock Exchange's TA-25 benchmark index past the 900-point level to a new record, led by a strong performance by the country's banks. The TA-25 rose 2.07% to 907.61, surpassing the record 899 set last Wednesday. The TA-100 advanced 1.66% to 919.02, short of its record 919.75 points, set May 9. The Tel-Tech 15 index of top technology issues climbed 0.62% to 375.46. The Tel-Tech's top is 482.78, set Jan. 20, 2004. Bank Hapoalim and Bank Leumi were the most active issues in the TA-25, together accounting for nearly 15% of the total TASE volume of $306 million. Hapoalim jumped 2.9% to NIS 21.45 while Leumi added 2.8% to NIS 18.09, Discount rose 2% to NIS 8.9, and Mizrahi-Tefahot added 2.3% to NIS 29.31. The Tel Aviv 15 Financials index rose 2.03% to 1203.22.. In the Tel-Tech, the most-active stock was defense contractor Elbit Systems, finishing down 0.9% at NIS 133. The company, which is also a TA-25 member, said its El-Op subsidiary received a $5m. contract to supply portable designators-rangefinders and thermal-imaging equipment to Germany's military. The only other TA-25 stock to lose ground was agrichemicals producer Makhteshim-Agan, down 0.3% to NIS 21.38. The Tel Aviv Real Estate 15 index advanced 0.87% to 669.63. Among the active issues Africa Israel Investments added 3.2% to NIS 294, Jerusalem Economic was up 0.6% at NIS 59.96, and Elbit Medical Imaging, which also has interests in medical scanning equipment, rose 0.5 to NIS 130.7. MarketWatch: In-depth global business coverage