Wed: Teva gives market bitter pill

The resignation of its CEO depressed Teva, dragging the market down, but energy exploration stocks were firm. Babylon bombed after Google dumped it.

The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 0.52% to 1,283.08 points, the Tel Aviv 100 Index fell 0.75% to 1,158.64 points, and the BlueTech 50 Index fell 2.25% to 327.53 points. Turnover was NIS 1.33 billion.

The TASE fell today, despite gains at the opening on Wall Street and mixed sessions in Europe.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.518/$, down 0.17% on yesterday's rate, and set the shekel-euro representative exchange rate at NIS 4.823/€, down 0.18%.

In the bond market, long-term Shahar unlinked shekel government bonds and long term Galil CPI-linked government bonds fell. The corporate bond benchmark Tel-Bond 20 Index rose 0.07%.

In the stock market, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 6.6%, for the biggest loss among Tel Aviv 25 shares, and on the day's biggest turnover of NIS 212 million, following the ouster of CEO Jeremy Levin.

NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) fell 0.7%, after publishing its financials. Delek Drilling LP (TASE: DEDR.L) rose 2.6% for the biggest gain among Tel Aviv 25 shares, while sister company Avner Oil and Gas LP (TASE: AVNR.L) rose 0.8%.

On the Tel Aviv 100 Index, Babylon Ltd. (TASE:BBYL) fell 61.8%, after announcing that Google Inc. (Nasdaq: GOOG) was discontinuing their agreement. Small-cap Somoto Ltd. (TASE: SMTO), which has a strategic agreement with Babylon and derives a fifth of its revenue from Babylon's agreement with Google, fell 24.1%.

Shufersal Ltd. (TASE:SAE) fell 3%, after reporting a 50% drop in net profit for the third quarter. Africa-Israel Investments Ltd. (TASE:AFIL) rose 8.2% in heavy trading, after announcing the exercise of options.

Mid-cap Mazor Robotics Ltd. (Nasdaq: MZOR; TASE:MZOR) rose 6.6%, after raising $40.8 million on Nasdaq, and AudioCodes Ltd. (Nasdaq: AUDC; TASE: AUDC) fell 9%, despite publishing favorable financials.

Elsewhere in the market, Enlight Renewable Energy Solutions Ltd. (TASE:ENLT) fell 6.9%, despite announcing that it secured financing for the installation of rooftop photovoltaic systems in Israel.

Published by Globes [online], Israel business news - - on October 30, 2013

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

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