Wed: NuPathe bid boosts Teva

The TEl Aviv 25 Index fell slightly today, but leading stock Teva rose. The big two banks fell, and IDB Holding slid further after yesterday's collapse.

The Tel Aviv Stock Exchange (TASE) was mixed today. The Tel Aviv 25 Index dipped 0.14% to 1,327.07 points, but the Tel Aviv 100 Index edged up 0.05% to 1,219.27 points, and the BlueTech 50 Index rose 0.98% to 351.70 points. Turnover was NIS 1.21 billion.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.507/$, up 0.17% on yesterday's rate, and set the shekel-euro representative exchange rate at NIS 4.766/€, down 0.22%.

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 fell 0.04%.

In the stock market, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) rose 1.6%, on the day's biggest turnover of NIS 119.2 million, after announcing that it had made an offer to acquire NuPathe Inc. (NYSE: PATH). Opko Health Inc. (NYSE: OPK; TASE: OPK) rose 0.3%, after announcing that it had acquired Laboratorio Arama de Uruguay Ltda. for an undisclosed amount.

Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) rose 2.1%, for the biggest gain among Tel Aviv 25 shares, and Israel Discount Bank (TASE: DSCT) fell 2% for the biggest loss. Bank Leumi (TASE: LUMI) fell 1.4% and Bank Hapoalim (TASE: POLI) fell 0.5%.

Elsewhere in the market, IDB Holding Corp. Ltd. (TASE:IDBH) fell another 4.8%, on top of yesterday's 51.7% plunge, after announcing that the Manor family had sold its stake in the company.

In biomed, Compugen Ltd. (Nasdaq: CGEN; TASE: CGEN) rose another 5.8%, following yesterday's announcement that it was expanding its immune-oncology drug development program. Pluristem Therapeutics Ltd. (Nasdaq:PSTI; TASE: PLTR) rose 1.6%, after announcing that it had obtained an Australian patent for its stem-cell treatment. XTL Biopharmaceuticals Ltd. (Nasdaq:XTLB); TASE:XTL) rose 13.9%, after signing a licensing agreement for its Lupus treatment, BiolineRX Ltd. (Nasdaq: BLRX); TASE:BLRX) rose 3.9%, after announcing a collaboration on its Type 1 diabetes treatment with a Taiwanese company, and Exalenz Bioscience Ltd. (TASE:EXEN) rose 9.1% on a new US patent.

Published by Globes [online], Israel business news - - on January 8, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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