Thu: Tower slumps in weak market

Disappointing guidance from Tower Semiconductor sent its stock tumbling, amid falls in all the main indices today.  

The Tel Aviv Stock Exchange fell today. The Tel Aviv 35 Index fell 0.19%, to 1,499.34 points; the Tel Aviv 125 Index fell 0.34%, to 1,362.09 points; and the BlueTech Global Index fell 0.43%, to 374.53 points. The TelBond 20 corporate bond index fell 0.19%, to 341.78 points. Turnover totaled NIS 1.86 billion.

On the foreign exchange market, the representative shekel-dollar rate was set 0.11% lower, at NIS 3.4970/$, and the representative shekel-euro rate was set 0.35% lower, at NIS 4.2980/€.

Tower Semiconductor, which announced good results today but disappointing guidance, led trading, and fell 7.19%. Nice Systems rose 0.75%; Bank Leumi fell 0.10%; Frutarom fell 1.71%; and Teva rose 0.88%.

Among notable advancers were Alony Hetz, up 3.24%; Kenon Holdings, up 3.23%; Delek Drilling, up 2.91%; Ratio, up 2.67%; and Mazor Robotics, up 2.56%. Shikun & Binui fell 3.01%, against a background of further arrests in the affair of alleged bribery by the company in Kenya.

Published by Globes [online], Israel business news - www.globes-online.com - on February 22, 2018

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

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