Thu: Teva drags TASE down

Along with markets around the world, the TASE had a torrid week, with Teva's first quarter results adding a local depressant.

The Tel Aviv Stock Exchange fell today. The Tel Aviv 35 Index fell 1.26%, to 1,478.52 points; the Tel Aviv 125 Index fell 1.21%, to 1,341.83 points; and the BlueTech Global Index fell 0.57%, to 371.81 points. The TelBond 20 corporate bond index fell 0.32%, to 342.91 points. Turnover totaled NIS 1.71 billion.

For the week, the Tel Aviv 35 Index fell 4.0%. The index is down 2.1% for the year to date.

On the foreign exchange market, the representative shekel-dollar rate was set 0.37% higher, at NIS 3.4990/$, and the representative shekel-euro rate was set 0.44% lower, at NIS 4.2826/€.

Leading stock Teva fell 6.94% after releasing fourth quarter results and future guidance that disappointed investors, and that contained a huge write-down of goodwill. Bank Leumi fell 0.42%; Bank Hapoalim fell 1.89%; Frutarom fell 0.59%. The fifth stock in the leading five, Elbit Systems, rose 4.18%. Ormat Technologies was another prominent advancer, rising 1.10%. Opko Health fell 6.74%, and Bezeq parent company B Communications fell 4.33%.

Published by Globes [online], Israel business news - www.globes-online.com - on February 8, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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