Thu: Teva lifts TASE single handedly

As other leading stocks fell, Teva's announcement of its cost-cutting program gave it a huge boost.

The Tel Aviv Stock Exchange rose today. The Tel Aviv 35 Index rose 0.24%, to 1,461.34 points; the Tel Aviv 125 Index rose 0.16%, to 1,325.91 points; and the BlueTech Global Index rose 0.22%, to 367.61 points. The TelBond 20 corporate bond index fell 0.11%, to 342.96 points. Turnover totaled NIS 2.23 billion.

For the week, the Tel Aviv 25 index rose 1.1% . The index is down 0.6% for the year to date.

On the foreign exchange market, the representative shekel-dollar rate was set 0.62% lower, at NIS 3.5280/$, and the representative shekel-euro rate was set 0.21% higher, at NIS 4.1758/€.

Investors in Tel Aviv gave Teva's long-awaited streamlining plan a resounding cheer, sending its share price soaring by 13.48%. The other four leading stocks all fell: Bank Hapoalim by 0.17%; Bank Leumi by 0.98%; Nice Systems by 2.03%; and Futarom by 2.33%. Elbit Systems fell 3.15%.

Published by Globes [online], Israel business news - www.globes-online.com - on December 14, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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