The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 0.40% to 1,229.24 points, the Tel Aviv 100 Index fell 0.56% to 1,110.56 points, and the BlueTech 50 Index fell 1.16% to 3108.65 points. Turnover was NIS 1.53 billion.
The TASE fell across the board today, in line with losses on European markets and despite a mixed the opening on Wall Street. TASE chairman Sam Bronfeld resigned today, under pressure from Israel Securities Authority chairman Shmuel Hauser, a week after the resignation of CEO Ester Levanon. Tel Aviv 25 options for July expired today unchanged. The Tel Aviv 25 rose 0.2% for the week.
In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.594/$, up 0.48% on yesterday's rate, and set the shekel-euro representative exchange rate at NIS 4.747/€, up 0.21%.
In the bond market, government Shahar unlinked shekel bonds and CPI-linked Galil bonds fell. The corporate bond benchmark Tel-Bond 20 Index fell 0.10%.
In the stock market, Israel Corporation (TASE: ILCO) fell 1.8%, after announcing the resignation of controlling shareholder Idan Ofer from its board of directors. Subsidiary Israel Chemicals Ltd. (TASE: ICL) fell 3.3%, for the biggest loss among Tel Aviv 25 shares, on the day's biggest turnover of NIS 197 million, after rival Potash Corporation of Saskatchewan Inc. (NYSE; TSX: POT) published its second quarter financials and guidance for the year.
Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) bucked the market with a 2.7% gain, the biggest among Tel Aviv 25 shares, but Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) fell 0.7% and Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) was unchanged.
Perrigo Company (NYSE:PRGO; TASE:PRGO) fell 0.1%, following reports that it was planning to bid for Irish big pharma company Elan Corporation plc (NYSE; LSE; Dublin: ELN). Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 1.3%, after announcing that it was discontinuing its biosimilars joint venture with Switzerland's Lonza Group (SXX LONN).
Elsewhere in the market, Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS) fell 0.5%, and its parent company IDB Holding Corp. Ltd. (TASE:IDBH) rose 1%, after reports that Thai conglomerate CP Group was the foreign company in talks to buy the insurance company.
Mellanox Technologies Ltd. (Nasdaq:MLNX; TASE:MLNX) fell 2.2%, after publishing its financials. Exalenz Bioscience Ltd. (TASE:EXEN) fell 8.4%, after a rights issue.
Published by Globes [online], Israel business news - www.globes-online.com - on July 25, 2013
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