Wed: TASE gains despite Teva nosedive

Teva fell sharply following weak 2019 guidance while Israel Chemicals and Mizrahi Tefahot led the market higher.

The Tel Aviv Stock Exchange rose today. The Tel Aviv 35 Index rose 0.35% to 1,558.62 points; the Tel Aviv 125 Index rose 0.54% to 1,420.81 points; and the BlueTech Global Index rose 0.35% to 380.49 points. The TelBond 20 corporate bond index rose 0.03% to 347.26 points. Trading turnover was NIS 1.42 billion.

On the foreign currency market, the Bank of Israel set the shekel-dollar representative rate down 0.165% at NIS 3.637/$ from Tuesday's rate and set the shekel-euro rate down 0.015% at 4.115/€.

On the market, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 7.69% for the biggest fall on the Tel Aviv 35 Index on the day's biggest trading turnover after reporting its fourth quarter and full year 2018 results and issuing weaker than expected 2019 guidance. Delek Group Ltd. (TASE: DLEKG) fell 2.61%.

Mizrahi Tefahot Bank (TASE:MZTF) rose 2.62% for the biggest rise on the Tel Aviv 35 Index. Israel Chemicals (TASE: ICL: NYSE: ICL) rose 1.91% and Perrigo Company (NYSE:PRGO; TASE:PRGO) rose 1.37%. Israel Discount Bank (TASE: DSCT) rose 1.64%, Bank Leumi (TASE: LUMI) rose 0.67% and Bank Hapoalim (TASE: POLI) rose 0.32%. Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) rose 0.95% and Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) rose 0.76%.

Published by Globes, Israel business news - en.globes.co.il - on February 13, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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