The week’s opening trading day left no room for doubt on Wall Street; the bulls are back in force, aiming for new records. The most outstanding news came this time from East Asia, with wild rises on the stock exchanges of Hong Kong and Singapore, of 14% each. They pulled European stock exchanges up after them, and Wall Street had no choice but to follow.
Most of the Israeli shares, of course, joined the general trend, and responded by moderate to sharp rises.
Mercury reached a new record, rising 6% to $30.9, putting its market value at more than $500 million. The rises of the last few days can be attributed to the "strong buy" recommendation Mercury received from Alex Brown Investment Bank, and yesterday’s press release, announcing that Mercury’s testing tools software has been approved by German company SAP, which specializes in business application solutions.
Mercury, which specializes in automated testing of software systems, is expected to benefit from the conversion of organizational software systems to the year 2000.
Published by Israel's Business Arena February 3, 1998