Wed: Teva leads market losses

Teva fell on the day's biggest turnover, and Oil Refineries recorded the biggest loss on the Tel Aviv 25 Index, after reporting a breakdown.

The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 0.63% to 1,233.41 points, the Tel Aviv 100 Index fell 0.72% to 1,109.95 points, and the BlueTech 50 Index fell 0.78% to 311.46 points. Turnover was NIS 904.3 million.

The TASE fell across the board today, in line with losses on European markets and at the opening on Wall Street.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.69/$, down 0.35% compared with yesterday's representative rate, and set the shekel-euro representative exchange rate at NIS 4.781/€, down 0.35%.

In the bond market, both long-term Shahar unlinked shekel government bonds and long term Galil CPI-linked government fell by up to 0.9%. The corporate bond benchmark Tel-Bond 20 Index fell 0.42%.

In the stock market, Oil Refineries Ltd. (TASE:ORL) fell 2.4%, for the biggest loss among Tel Aviv 25 shares, after reporting a breakdown, which will cost it $11 million. Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 1.9% on the day's biggest turnover of NIS 82 million.

Bucking the market, Strauss Group Ltd. (TASE:STRS) rose another 1.9%, after publishing its financials yesterday, for the biggest gain among Tel Aviv 25 shares. Israel Corporation (TASE: ILCO) rose 1.8%.

On the Tel Aviv 100 Index, Migdal Insurance and Financial Holdings Ltd. (TASE: MGDL) fell 0.8%, despite reporting a 143% jump in net profit to NIS 207 million, and Harel Insurance Investments and Financial Services Ltd. (TASE: HARL) fell 1.9%, after publishing its financials. Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS) fell 2.5%.

Also on the index, First International Bank of Israel (TASE: FTIN) rose 1.2%, despite reporting lower profits. Africa-Israel Investments Ltd. (TASE:AFIL) fell 2.3%, after reporting further losses. Melisron Ltd. (TASE: MLSR) rose 0.2%, after selling two malls to Clal Insurance.

Elsewhere in the market, Mazor Robotics Ltd. (Nasdaq: MZOR; TASE:MZOR) rose 7.6%, the day after trading in its ADSs began on Nasdaq. Evogene Ltd. (TASE:EVGN) rose 2.3% on a Chinese cooperation agreement, Brainsway Ltd. (TASE:BRIN) rose 2.2%, after obtaining CE Mark for its Deep TMS device treatment of Alzheimer's disease and tobacco addition, and Micronet Ltd. (TASE:MCRNT) rose 14.1% on good financials.

Published by Globes [online], Israel business news - - on May 29, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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