Wed: Perrigo pulls market down

Perrigo fell sharply and Teva was down on the day's biggest turnover.

The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 0.48% to 1,367.90 points, the Tel Aviv 100 Index fell 0.94% to 1,234.36 points, and the BlueTech 50 Index fell 1.84% to 323.36 points. Turnover was NIS 1.34 billion.

The Tel Aviv 25 Index fell today, after being closed for Memorial Day and Independence Day, despite mixed sessions on European markets and at the opening on Wall Street.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.449/$, down 0.26% on Friday's rate, and set the shekel-euro representative exchange rate at NIS 4.805/, up 0.13%.

In the bond market, both long-term Shahar unlinked shekel government bonds and long term Galil CPI-linked government bonds rose. The corporate bond benchmark Tel-Bond 20 Index rose 0.04%.

In the stock market, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 0.9%, on the day's biggest turnover of NIS 134.7 million, and Perrigo Company (NYSE:PRGO; TASE:PRGO) fell 9.2%, for the biggest loss among Tel Aviv 25 shares, after cutting its guidance.

Tamar partners Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) rose 1.5% and 2.1%, respectively, and their parent company, Delek Group Ltd. (TASE: DLEKG), rose 3.3%, for the biggest gain among Tel Aviv 25 shares, on a large Spanish deal. Isramco Negev 2 LP (TASE: ISRA.L) rose 2.5%.

Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) rose 3.3%, after selling classified ads site Yad2 to Axel Springer.

On the Tel Aviv 100 Index, Allot Communications Ltd. (Nasdaq:ALLT; TASE: ALLT) fell 5.6%, despite announcing a $3 million contract, Magic Software Enterprises Ltd. (Nasdaq: MGIC; TASE: MGIC) fell 0.5%, despite reporting 28% profit growth to $5.4 million, and Delta Galil Industries Ltd. (Pink Sheets: DELTY; TASE: DELT) rose 2.3% after reporting 32% profit growth to $8.7 million.

Published by Globes [online], Israel business news - - on May 7, 2014

Copyright of Globes Publisher Itonut (1983) Ltd. 2014

View comments in rows
Update by email about comments talkback
Your name
Please insert your name
Hyperlink in a new window Hyperlink Right Left underline italic bold Bulleted List Ordered List Face1 Face2 Face3 Face4 Face5 Face6
Your comment

You comment was recieved and soon will be published.
In posting comments, I agree to abide by the Terms of Use
Globes encourages lively and frank debate, but posts that the editors consider merely abusive or otherwise inappropriate will be removed. Report inappropriate content
Thank you for posting your comment, which will be reviewed for publication.
Loading Comments...load
Load more comments

Biolight jumps on strong Zacks recommendation

Zacks cites the company for its technology, products, and meeting its targets.

Discount Bank hires Eini as labor relations consultant

The former Histadrut chairman will advise the bank on its streamlining plan and wage agreement.

shekel  picture: thinkstock Shekel rebound continues

UTrade: The shekel appreciation is short term, in the long term it will weaken against the dollar.

Nasdaq VBL Therapeutics raises $40m in revived Nasdaq IPO

After the fiasco of the failed IPO in August, the drug development company scaled down the offering.

Israel Chemicals No arbitration on Israel Chemicals profit dispute

The Jerusalem District Court ruled the state was not violating the franchise agreement.

Qoros Sedan Israel Corp. to lend Qoros $130m

Israel Corp. has invested $600 million to date in the Chinese car joint venture.

shekel  picture: bloomberg Shekel gains ground at opening

FXCM Israel: The proximity to NIS 3.7/$ is slowing the depreciation of the shekel.

RAD to issue Jerusalem office high-rise tender

The 25-storey tower will occupy 52,000 sq.m.

Yahoo! Japan deploys Mellanox solutions

Mellanox has helped Yahoo! Japan improve its database performance tenfold.

Wix Wix to open Beersheva and Haifa development centers

The DIY website platform company already has 800 employees in Tel Aviv and worldwide.

Ori Yehudai Frutarom acquires Peru's Montana Food for $28m

Frutarom CEO: This strategic step that expands our activities in emerging markets.

shekel Shekel stable after recent volatility

Prico: The full potential for shekel depreciation has not yet been realized. to begin trading employee shares

Israel's secondary market web trading platform will allow private high-tech company employees to realize options.

Dankner: I had no reason to manipulate IDB shares

Nochi Dankner filed his statement of defense to share pegging charges in the Tel Aviv District Court today.

Yossi Vinitski Israeli Wall Street IPOs surpass $3.5b in 2014

2014 is shaping up to be a record year for the raising of capital says Hapoalim high tech head Yossi Vinitski.

EZchip What's rocking EZchip

Shlomi Cohen says the acquisition buzz is right, just not the way people think.

gold An eye for the next Mobileye

Israeli auto-importers have a Midas touch when it comes to investments. Following are some of their most promising picks.

money "M&A money is coming into Israel"

Three experts talk to "Globes" about Israel's place in the global M&A trend.

Danna Azrieli The heiress to the Azrieli empire

"Globes" investigates whether Danna Azrieli will be a fitting successor to her late father.

Avivit Mannet-Kalil "Iron Dome has highlighted Israel's technological ability"

Oppenheimer Israel co-CEO Avivit Mannet-Kalil: There is huge admiration for Israeli technology.

World's biggest fund discovers Tel Aviv

In 2013, the Government Pension Fund of Norway raised its investment in Israeli stocks by 43%.

Theres nothing generic about generics at Teva

Teva's Elisabeth Kogan claims that investors and analysts buried generics too soon.

neil corney Citi Israel CEO: Regulation isnt stifling here

Neil Corney: Citi sees Israel as one of its most important targets for 2014.

Eli Gelman Amdocs CEO: We strive for 5% annual growth

Eli Gelman fears complacency as the company expands in emerging markets.

Tovia Luskin  picture: Uria Tadmor Tovia Luskin loses messianic luster

Shareholders lost faith in the former Givot CEO, who used the Torah to discover oil.

Moti Ben-Moshe and Nochi Dankner Investigating the investigators

Who are Black Cube, the firm probing Moti Ben-Moshe's affairs for Nochi Dankner?

Twitter Facebook Linkedin RSS Newsletters