Sun: TASE rises despite steep Teva fall

Teva fell sharply on an arbitrage difference with NYSE while there were strong gains for Ormat and Frutarom.

The Tel Aviv Stock Exchange rose today. The Tel Aviv 35 Index rose 0.49% to 1,476.13 points; the Tel Aviv 125 Index rose 0.62% to 1,336.33 points; and the BlueTech Global Index rose 0.60% to 354.00 points. The TelBond 20 corporate bond index rose 0.09% to 345.11 points. Trading turnover was NIS 455.7 million.

On the foreign currency market, the Bank of Israel set the shekel-dollar representative rate down 0.275% at NIS 3.622/$ on Friday and set the shekel-euro rate down 0.253% at 4.336/€.

On the market, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 5.49% on an arbitrage difference with NYSE for the biggest fall on the Tel Aviv 35 Index on the day's biggest trading turnover.

Ormat Technologies Inc. (NYSE: ORA; TASE: ORA) rose 3.41% for the biggest rise on the Tel Aviv 35 Index. Frutarom Industries Ltd. (TASE: FRUT; LSE:FRUT; OTCBB:FRUTF) rose 2.96% and Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE: TSEM) rose 2.95%.Israel Chemicals (TASE: ICL: NYSE: ICL) rose 1.52%, Delek Group Ltd. (TASE: DLEKG) rose 2.04%, and Shufersal Ltd. (TASE:SAE) rose 2.25%.

Among the small cap companies, IceCure Medical (TASE: ICCM) rose 137% after publishing positive results for its breast cancer tumor treatment.

Published by Globes [online], Israel business news - www.globes-online.com - on May 6, 2018

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