The Tel Aviv Stock Exchange (TASE) fell sharply this morning, trading under the influence of losses on international markets.
The Tel Aviv 25 index fell 2.1% to 1043 points, the Tel Aviv 100 index fell 2.3% to 944 points, the Tel-Tech fell 3.2%, the Real Estate 15 index fell 3.4%, and the Mid-Cap 50 index is down 4.6%.
Wall Street closed sharply down yesterday, and the market is now considered bearish. General Motors Co. (NYSE: GM) led yesterday's losses, falling 15% to a 54-year low, and Potash Corporation of Saskatchewan Inc. (NYSE; TSX: POT) also fell sharply in both markets.
Israel Chemicals Ltd. (TASE: ICL) and its parent, Israel Corp. (TASE: ILCO), were the focus of attention. Israel Chemicals fell 7% in morning trading today, in line with its international peers, and Israel Corp. fell 5%.
Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) fell 2.5% after the US District Court for the Western District of Tennessee in Memphis ordered subsidiary Kollsman Inc. to pay $23.2 million in damages.
Among Tel Aviv 25 shares, only Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) and Perrigo Company (Nasdaq:PRGO; TASE:PRGO) are bucking the trend.
Published by Globes [online], Israel business news - www.globes-online.com - on July 3, 2008
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