Mon: Telcos pull market down

Bezeq, Cellcom, and Partner lost ground, while Teva was down on the day's biggest turnover.

The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 0.62% to 1,285.32 points, the Tel Aviv 100 Index fell 0.60% to 1,164.11 points, and the BlueTech 50 Index fell 0.48% to 335.99 points. Turnover was NIS 1.18 billion.

The TASE fell 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 3.529/$, up 0.09% compared with Friday's rate, and set the shekel-euro representative exchange rate at NIS 4.873/€, up 0.04%.

In the bond market, both long-term Shahar unlinked shekel government bonds and long term Galil CPI-linked government fell. The corporate bond benchmark Tel-Bond 20 Index fell 0.06%.

In the stock market, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 0.8%, on the day's biggest turnover of NIS 169.4 million, amid reports that CEO Jeremy Levin had threatened to resign and his subsequent denial.

Oil Refineries Ltd. (TASE:ORL) rose 1.5% for the biggest gain among Tel Aviv 25 shares, and sister company Israel Chemicals Ltd. (TASE: ICL) rose 0.5%, but their parent company, Israel Corporation (TASE: ILCO), fell 2.3%.

Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) fell 3.4% for the biggest loss among Tel Aviv 25 shares, and mobile carriers Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) and Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) fell 2% and 0.8%, respectively.

On the Tel Aviv 25 Index, Evogene Ltd. (TASE:EVGN; Pink Sheets: EVENF) fell 1.1%, despite extending its collaboration agreement with Monsanto Corporation (NYSE: MON). Babylon Ltd. (TASE:BBYL) corrected upwards another 5%.

IDB Holding Corp. Ltd. (TASE:IDBH) fell 0.6%, after a new, higher valuation for wholly-owned subsidiary IDB Development Corporation.

Small-cap Vaxil Biotherapeutics Ltd. (TASE: VAXL-M) and BiondVax Pharmaceuticals Ltd. (TASE:BNDX) fell 8.7% and 13.7%, respectively, after secondary issues.

Published by Globes [online], Israel business news - - on October 28, 2013

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

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