The Tel Aviv Stock Exchange finished Wednesday’s trading session with gains, pulled upward by positive winds in Europe and on Wall Street. Meanwhile, several prominent Israeli shares responded with significant gains or losses following the publication of their companies’ third-quarter financial reports.
The blue-chip Tel Aviv-25 Index gained 0.6% to close at 1,305 points, while the broader Tel Aviv-100 Index gained 0.5% to close at 1,179 points. Technology shares closed up 0.8%, and the Real Estate-15 gained 0.6%. Oil and gas shares gained 0.5%%. Biomed shares bucked the trend, dropping 0.2%.
Turnover was NIS 980 million, which is lower than average of late. The stock exchange stated Wednesday that October had had daily turnovers of NIS 1.5 billion, 35% higher than before the exchange had extended trading hours.
Meanwhile, global equity markets rose on Wednesday on robust European economic data and talk the Federal Reserve will keep stimulus alive longer than expected, while the euro rose on speculation the European Central Bank won’t cut interest rates this week.
The big news in Israel on Wednesday was the acquittal of former Foreign Minister Avigdor Lieberman. Economists at the Halman Aldubi investment house stated that the markets might view this favorably, because it meant Lieberman was likely to return to the Foreign Ministry and Prime Minister Benjamin Netanyahu’s coalition would be stable.
Notable local shares included Photomedex, which fell 17.3% after publishing third-quarter financial reports.
Translation software company Babylon opened the day with gains of 6% but closed down 10%. The company has been going through a period of turbulence after Yahoo stated the company was in breach of a contract between the two, and then as Google canceled its contract with the company.
Chipmaker TowerJazz dropped 3.75% after publishing its financial reports, revealing revenues of $133 million for the third quarter, which is 15% less than in the parallel quarter. The company’s share is down 40% for the year.
Prominent gainers included chipmaker EZchip, up 6.7%, also after publishing its financial reports.
Lev Leviev’s real estate company Africa Israel gained 5.8%, which comes on top of a 21% gain for the month.
Bezeq Telecommunications company gained 4%, putting it up a total of 85% for the year.
With reporting by Reuters.
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