The Tel Aviv 25 index has fallen below 1100 points and the Tel Aviv 100 index is below 1000 points.
The Tel Aviv Stock Exchange (TASE) has finally caught up with its international peers. A strong opening quickly changed direction, and by mid-afternoon the Tel Aviv 25 index was down 4.2% and the Tel Aviv 100 index was down 4%. The Tel Aviv 25 index has fallen below 1100 points to 1056 points. The Tel Aviv 100 index is below 1000 points to 988 points.
Among Tel Aviv 25 stocks, only Strauss Group Ltd. (TASE:STEL) is up, and only four Tel Aviv 100 stocks are up (including Strauss). Other indices were faring no better: the Tel-Tech index was down 4.3% to 270 points and the Real Estate 15 index was also down 4.3%.
Meanwhile, in the foreign currency markets, the shekel also reversed direction against both the dollar and euro. After falling sharply in morning trading, by mid-afternoon, the shekel-dollar exchange rate was up 0.6% to NIS 3.734/$ and the shekel-euro exchange rate was up 0.33% to NIS 5.428/€.
Published by Globes [online], Israel business news - www.globes-online.com - on January 23, 2008
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008