B. Yair falls 8% on choppy TASE
The TA-25 index gained 0.7 percent to 1,077.6 points on Tuesday, the TA-100 index rose the same to 1,054.7 and the TelTech-15 index gained 1.4 percent.
Tel Aviv stocks finished above water after yesterday's choppy session. The leading indexes started with a negative bias and reversed to modest gains, that gained momentum as Wall Street opened in the black.
The TA-25 index gained 0.7 percent to 1,077.6 points on Tuesday, the TA-100 index rose the same to 1,054.7 and the TelTech-15 index gained 1.4 percent, propelled by its heavy dual-listed component. Turnover remained low at NIS 1.3 billion. Bonds positively surged: long-term fixed-income Shahars advanced by half a percent and linked Galils gained 0.3 percent.
The Real Estate-15 index gained 1 percent, but that's chilly comfort considering the 23 percent it's lost since May began. Real estate stocks swung more violently than other sectors in recent months, though all in all they've been in retreat for four months straight including August. They are also highly sensitive to changes in, or anticipated changes in, interest rates. Shares of Africa Israel gained 1.5 percent after rebounding from an opening loss of exactly that magnitude. Gazit Globe stock dropped 0.7 percent and Property & Building fell 2.9 percent.
While in real estate, shares of the shell company Gaon Real Estate climbed 9.1 percent on turnover of NIS 1.2 million.
Shares of Israel Chemicals gained 1.1 percent after UBS published a global review of shares that it sees benefiting from climate change and/or natural traumas. ICL received proud mention in this list, thanks to its production of precursors for fertilizers, which are likely to be in demand as the world wails for biofuels.
Shares of Bank Hapoalim clawed back some ground to close flat. The bank, Israel's biggest, has lost 17 percent of its value on the stock market since the start of May. One element that hasn't helped shore up Bank Hapoalim stock is that interested shareholders, namely the Alliance corporation, sold NIS 160 million worth of its shares since mid-July. Bank Leumi shares gained 0.2 percent.
Shares of BluePhoenix rose 4.1 percent on gigantic turnover for it of NIS 10.5 million, apparently based on the company's conference for investors in the United States. Biolight shares gained 6 percent and builder B. Yair dropped another 8 percent, despite the interview that its manager Yair Biton gave to Haaretz-TheMarker, saying that the public is mispricing the company. The public evidently disagrees.
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