Tue: Teva, Perrigo rise on acquisitions

Teva and Perrigo rose on a flat market after announcing acquisitions but Israel Chemicals was still spooked by the impending investigation into royalties on natural resources.

The Tel Aviv Stock Exchange (TASE) was mixed today. The Tel Aviv 25 Index fell 0.06% to 1,228.22 points, the Tel Aviv 100 Index rose 0.05% to 1,102.78 points, and the BlueTech 50 Index rose 0.37% to 306.33 points. Turnover was NIS 995.2 million.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.594/$, down 0.22% on yesterday's rate, and set the shekel-euro representative exchange rate at NIS 4.808/€, up 0.04%.

In the bond market, the corporate bond benchmark Tel-Bond 20 Index rose 0.08%

In the stock market, Israel Chemicals Ltd. (TASE: ICL) fell for the second straight day after Finance Minister Yair Lapid announced the establishment of a committee to investigate royalties on natural resources. The share price fell 0.65% on the day's highest trading turnover of NIS 158 million. Parent company Israel Corporation (TASE: ILCO) fell 2.2%.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) rose 0.5% following the acquisition of a lung disease drug developer. Perrigo Company (NYSE:PRGO; TASE:PRGO) rose 0.26% on the acquisition of a portfolio of ophthalmic products.

Mellanox Technologies Ltd. (Nasdaq:MLNX; TASE:MLNX) fell 1.38% despite appointing a new chairman.

Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) lost some of yesterday's large gains, falling 0.78%.

Published by Globes [online], Israel business news - www.globes-online.com - on June 18, 2013

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

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