Thu: Pharma stocks pull TASE down

Teva, Mylan and Perrigo were among the most notable decliners today. Insurance stocks were firm.

The Tel Aviv Stock Exchange fell today. The Tel Aviv 25 Index fell 0.59%, to 1,450.06 points; the Tel Aviv 100 Index fell 0.58%, to 1,269.08 points; and the BlueTech Index fell 0.46%, to 372.98 points. The TelBond 20 corporate bond index rose 0.02%, to 324.50 points. Turnover totaled NIS 1.57 billion.

On the foreign exchange market, the representative shekel-dollar rate was set 0.70% lower, at NIS 3.8250/$, and the representative shekel-euro rate was set 0.62% higher, at NIS 4.0733/€.

Teva led trading today, and, besides being beset by its own particular woes, suffered along with the pharma sector generally from hostile remarks about the industry from US president-elect Donald Trump yesterday. Its share price fell 3.7%, while Mylan fell 7.18% and Perrigo fell 2.89%. Bank Leumi was the only stock in the top five to rise, by 1.26%. Bank Hapoalim fell 0.04% and ICL fell 0.29%.

Nice Systems rose 3.41%, and insurance companies Migdal and Harel both rose strongly, by 3.17% and 2.98%.

Published by Globes [online], Israel business news - www.globes-online.com - on January 12, 2017

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

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