Thu: Teva continues to fall
The Tel Aviv 25 Index set a new record and has risen 130% since Nov. 2008. The market will remain closed until Tuesday due to the Passover holiday.
The Tel Aviv 25 Index set a new record today, breaking the previous all-time high set on January 19. The market is up 130% from the low point of 592.07 points reached in November 2008, and up 11% over the past year. The Tel Aviv 25 Index rose 1.2% for the week.
Turnover was thin because of the short session. The TASE will reopen next Tuesday, after the second Passover holiday.
In the bond market, long-term Shahar unlinked government bonds rose by up to 0.1%, and long-term Galil CPI-linked bonds ranged between losses of 0.1% and gains of 0.1%. The corporate bond benchmark Tel-Bond 20 Index fell 0.07%.
In the foreign currency market, the shekel-dollar representative exchange fell 0.56% to NIS 3.405/$, but the shekel-euro representative exchange rate rose 0.84% to NIS 4.984/€.
In the stock market, NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) rose 1.6% for the biggest gain among Tel Aviv 25 shares, followed by Israel Chemicals Ltd. (TASE: ICL), which rose 1.3% on the day's second largest turnover of NIS 79.6 million.
Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) was the biggest loser, falling another 1.7% on the day's largest turnover of NIS 87.6 million. The TASE closed before news that Biogen Idec Inc. (Nasdaq: BIIB) announced positive results in the Phase III clinical trial of its multiple sclerosis treatment, which sent Teva's share price tumbling in premarket trading on Nasdaq.
In the oil and gas exploration sector, Israel Financial Levers Ltd. (TASE:LVR) rose 3.4% after announcing estimates of oil reserves at the Shemen license. Givot Olam Oil Exploration LP (TASE:GIVO.L) rose 9.5% and Israel Opportunity Energy Resources LP (TASE: ISOP.L) rose 7.1% without any announcements by either company.
Among small-cap shares, real estate company Netz Bonds (2009) Ltd. (TASE:NETZ) rose 24% for the week, despite a 0.6% dip today after announcing last week that its controlling shareholders will transfer theirs stakes in Africa-Israel Hotels Ltd. to the company.
Published by Globes [online], Israel business news - www.globes-online.com - on April 21, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011
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