The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 index fell 1.06% to 1224 points, the Tel Aviv 100 index fell 1.09% to 1176.10 points, and the Tel-Tech fell 2.19% to 439.96 points. Turnover was NIS 2.28 billion.
The TASE fell sharply today, but the Tel Aviv 25 index nevertheless rose 2.6% for the week, during which it rose - and stayed - above the 1200-point level. International markets failed to share in Wall Street’s momentum driven by the interest rate cut by the US Federal Reserve Board. Although the TASE rose at the opening today, the market quickly made a U-turn and continued south for almost the entire session.
In the foreign currency market, the shekel appreciated against both the dollar and euro. The shekel-dollar exchange rate fell 0.05% to NIS 3.964 and the shekel-euro exchange rate fell 0.3% to NIS 5.7155/€.
In the stock market, Israel Chemicals Ltd. (TASE: CHIM) fell 1.4% on the day’s largest trading volume. Makhteshim Agan Industries Ltd. (TASE: MAIN) attracted interest on reports that a deal to acquire Australia’s Nufarm Ltd. (ASX:NUF) has been closed. Full details will be published on Monday. Makhteshim Agan fell 2.2%.
Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) rose 0.2% and Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY) fell 0.5%.
Bank Hapoalim (LSE: BKHD; TASE: POLI) fell 1.5% and Bank Leumi (TASE: LUMI) fell 1.6%.
Among other blue-chip stocks, Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR; LSE:PCCD) rose another 1.2% on the strength of yesterday’s financials. Azorim Investment, Development and Construction Ltd. (TASE: AZRM) rose 2.9%, and Ormat Industries Ltd. (TASE: ORMT) fell 3.3%.
Among dual-listed shares, Perrigo Company (Nasdaq:PRGO; TASE:PRGO) rose 10.4% after raising its guidance for its 2008 fiscal year, Given Imaging Ltd. (Nasdaq: GIVN; TASE: GIVN) fell 5.5% after publishing its financials today, and Alvarion Ltd. (Nasdaq: ALVR; TASE: ALVR) fell another 9.2%.
Published by Globes [online], Israel business news - www.globes.co.il - on November 1, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007