Thu: Perrigo surges but indices fall

Analyst-beating quarterly results saw Perrigo rise strongly, in a generally strong pharma sector, but it was still another down week for the TASE.

The Tel Aviv Stock Exchange fell today. The Tel Aviv 35 Index fell 0.13%, to 1,417.35 points; the Tel Aviv 125 Index fell 0.38%, to 1,293.64 points; and the BlueTech Global Index fell 1.10%, to 372.79 points. The TelBond 20 corporate bond index fell 0.13%, to 340.05 points. Turnover totaled NIS 1.98 billion.

For the week, the Tel Aviv 35 Index fell 0.7%. The index is down 3.6% for the year to date.

On the foreign exchange market, the representative shekel-dollar rate remained unchanged at NIS 3.5130/$, and the representative shekel-euro rate was set 0.41% higher, at NIS 4.0866/€.

Perrigo led trading today, and rose 13.92% after reporting unexpectedly good third quarter results – quarterly revenue was $1.23 billion, ahead of the consensus analysts' estimate of $1.17 billion, and earnings per share were $1.39, $0.29 ahead of the consensus estimate. Bank Hapoalim was second in the trading table, and fell 2.26%, followed by Bank Leumi, down 0.85%, Teva, up 1.87%, and Mylan, up 3.38%. It was not all positive in the pharma sector, however, with Opko Health diving 15.60%. Israel Chemicals fell 3.69%, and parent company Israel Corporation fell 5.14%.

Published by Globes [online], Israel business news - www.globes-online.com - on November 9, 2017

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

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