Sun: Opko Health again leads market losses

Opko Health was down 7.9% after losing 8% last week while the banks were also down as the TASE continued its losing streak.

The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 0.89% to 1,315.07 points, the Tel Aviv 100 Index fell 0.50% to 1,180.52 points, and the BlueTech 50 Index fell 1.05% to 321.97 points. Turnover was NIS 725.5 million.

The TASE rally continued falling, in line with losses on European markets and on Wall Street on Friday. The Tel Aviv 25 Index fell 3% last week.

In the foreign currency market, options point to a strengthening of the shekel with a 0.13% drop in the shekel-dollar exchange rate, compared with Friday's representative rate, to NIS 3.494/$, and to a 0.22% drop in the shekel-euro exchange rate NIS 4.812/€.

In the bond market, long-term Shahar unlinked shekel government bonds and long term Galil CPI-linked government bonds were mixed. The corporate bond benchmark Tel-Bond 20 Index rose 0.18%.

In the stock market, Opko Health Inc. (NYSE: OPK; TASE: OPK) led another day of falls declining 7.9% after losing 8% last week.

Oil Refineries Ltd. (TASE:ORL), which will be relegated from the Tel Aviv 25 Index at the end of the month rose 1.6% after the company successfully raised a NIS 272 million bond in an institutional offering.

The Banking Index was down 1.1% with Bank Hapoalim (TASE: POLI) down 0.9% and Bank Leumi (TASE: LUMI) down 1.3%. The Communications Index bucked the trend rising 0.6%.

Frutarom Industries Ltd. (TASE: FRUT; LSE:FRUT; OTCBB:FRUTF) rose 3.9% after buying a US company on Thursday.

Published by Globes [online], Israel business news - - on December 15, 2013

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

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