Market Report / Stocks down on paper-thin trade
Tel Aviv-25 Index lost 0.7% to close at 1,136 points, while the broader Tel Aviv-100 Index lost 0.5% to close at 1,048 points. Total turnover was less than one-third of what it has been lately,
The Tel Aviv Stock Exchange closed yesterday's short holiday trading day mixed with a negative bias on particularly low turnover of NIS 318 million, in the wake of disappointing U.S. employment data published Friday.
Trading in Tel Aviv will be ending at 2:30 P.M. throughout the Passover holiday.
Global stocks are expected to fall today when trading resumes following the weekend, after the U.S. Department of Labor published a report Friday announcing that job growth had slowed during the month of March.
In Tel Aviv yesterday, the blue-chip Tel Aviv-25 Index lost 0.7% to close at 1,136 points, while the broader Tel Aviv-100 Index lost 0.5% to close at 1,048 points. Total turnover was less than one-third of what it has been lately, and far from last year's daily averages of NIS 1.6 billion to NIS 1.8 billion.
The biomed index lost 1.2%, while the Real Estate-15 gained 0.5%. Oil and gas shares gained 0.4% following the latest announcement about the quantity of natural gas reserves at the Tanin offshore prospect.
The Israeli partners in Tanin, Delek Drilling and Avner Oil Exploration, gained 1.1% and 1.2%, respectively.
Notable shares included Africa Israel, which gained 3.8% after subsidiaries Africa Israel Properties and Africa Israel Residences completed successful debt offerings.
Elbit Imaging also gained 9.8% on Africa Israel's success.
Allot Communications gained 8.4% on the news that a large customer had placed a significant order.
Among those who lost ground was Babylon, which lost 10.3% as workers cashed in on stock options. Alvarion lost 10.6% on a profit warning, and Bezeq lost 1% as communications stocks retreated.