Thu: TASE closes off after late plunge

Leading stock Teva fell sharply, while Israel Chemicals rose.

The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 0.18% to 1,389.92 points, the Tel Aviv 100 Index fell 0.36% to 1,266.48 points, and the BlueTech 50 Index fell 0.54% to 339.37 points. Turnover was NIS 1.7 billion.

A late plunge sent the TASE into negative territory, despite gains at the opening on Wall Street. The Tel Aviv 25 Index has lost 1.6% in the past two weeks, but is up 4.6% year-to-date.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.477/$, down 0.34% on yesterday's rate, and set the shekel-euro representative exchange rate at NIS 4.807/€, down 0.45%.

In the bond market, long-term Shahar unlinked shekel government bonds and long term Galil CPI-linked government bonds fell. The corporate bond benchmark Tel-Bond 20 Index was unchanged.

In the stock market, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 2.6%, for the biggest loss among Tel Aviv 25 shares, and on the day's biggest turnover of NIS 105.9 million. Israel Chemicals Ltd. (TASE: ICL) and parent company Israel Corporation (TASE: ILCO) both rose 2% for the biggest gains among Tel Aviv 25 shares.

On the Tel Aviv 100 Index, Clal Biotechnology Industries Ltd. (TASE: CBI) fell 6.9%, despite announcing the sale of Andromeda Biotech Ltd., and Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS) fell 3.1%, despite reports of progress in the sale of the company.

Published by Globes [online], Israel business news - www.globes-online.com - on April 24, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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