Sun: Teva slump drags down TASE

Teva fell sharply after the FDA approved a generic version of Copaxone, while Perrigo corrected downwards.

The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 1.10% to 1,667.80 points, the Tel Aviv 100 Index fell 1.47% to 1,457.31 points, and the BlueTech 50 Index fell 1.97% to 377.14 points. Turnover was NIS 827.5 million.

In the foreign currency market, futures trading pointed to the shekel-dollar representative exchange rate falling 0.18% from Friday's rate to NIS 3.922/$, while the shekel-euro rate fell 0.25% to NIS 4.232/€.

In the bond market, the corporate bond benchmark Tel-Bond 20 Index was unchanged.

In the stock market, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 5.06% on the day's largest trading turnover, after last Thursday's news that the US Food and Drug Administration (FDA) had approved generic Copaxone. Perrigo Company (NYSE:PRGO; TASE:PRGO) fell 2.88%. Opko Health Inc. (NYSE: OPK; TASE: OPK) fell 3.6% and Ormat Technologies Inc. (NYSE: ORA; TASE: ORMT) fell 2.65%.

Frutarom Industries Ltd. (TASE: FRUT; LSE:FRUT; OTCBB:FRUTF) rose 1.85% for the biggest rise on the Tel Aviv 25 Index, while Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) rose 1.77%, and Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) rose 0.92%.

Published by Globes [online], Israel business news - www.globes-online.com - on April 19, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018