Wed: Credit Suisse crisis spooks TASE

The banks and Teva led the TASE down as Elbit Systems bucked the market.

The Tel Aviv Stock Exchange fell today as global markets fell on new of Credit Suisse's woes. The Tel Aviv 35 Index fell 1.84%, to 1,723.94 points; the Tel Aviv 125 Index fell 1.62%, to 1,711.41 points; and the BlueTech Global Index fell 0.54% to 328.62 points. The All Bond corporate bond index rose 0.26% to 360.62 points. Turnover totaled NIS 2.28 billion in equities and NIS 4.60 billion in bonds.

On the foreign exchange market, the Bank of Israel set the representative shekel-dollar rate up 0.386% from Tuesday, at NIS 3.641/$, and the representative shekel-euro rate was set 0.993% lower at NIS 3.858/€.

Bank Leumi (TASE:LUMI) led the market today, falling 2.72% on the day's biggest trading turnover. Bank Hapoalim (TASE: POLI) fell 1.24%, Israel Discount Bank (TASE: DSCT) fell 1.82%, Mizrahi Tefahot Bank fell 1.12% and First International Bank of Israel (TASE:FTIN1; FTIN5) fell 1.83%.

Ormat Technologies Inc. (NYSE: ORA; TASE: ORA) fell 8.56% for the biggest fall on the Tel Aviv 35 Index after announcing that it is raising $300 million on the NYSE at a discount. Shikun & Binui Holdings Ltd. (TASE: SKBN) fell 7.08% and Shapir Engineering and Industry (TASE: SPEN) fell 4.21%. Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 4.03% and ICL (TASE: ICL: NYSE: ICL) fell 3.44%.

Elbit Systems Ltd. (Nasdaq: ESLT; TASE:ESLT) rose 1.30% for the biggest rise on the Tel Aviv 35 Index and NICE Systems Ltd. (Nasdaq: NICE; TASE:NICE) rose 0.19%.

Published by Globes, Israel business news - en.globes.co.il - on March 15, 2023.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.

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