Wed: TASE mixed as NewMed falls

NewMed Energy fell sharply after BP and ADNOC suspended talks to buy 50% of the company as Teva bucked the market.

The Tel Aviv Stock Exchange was mixed today. The Tel Aviv 35 Index fell 0.20%, to 1,899.56 points; the Tel Aviv 125 Index rose 0.04% to 1,934.47 points; and the BlueTech Global Index rose 0.67% to 407.71 points. The All Bond corporate bond index fell 0.05% to 379.39 points. Turnover totaled NIS 1.8 billion in equities and NIS 3.72 billion in bonds.

On the foreign exchange market, the Bank of Israel set the representative shekel-dollar rate up 0.301% from Tuesday, at NIS 3.66/$, and the representative shekel-euro rate was set 0.363% higher at NIS 4.004/€.

NewMed Energy (TASE: NWMD) led the market today, falling 4.28% on the day's biggest trading turnover, for the biggest fall on the Tel Aviv 35 Index, after reporting that BP and ADNOC had suspended talks to buy 50% of the company. Parent company Delek Group Ltd. (TASE:DLEKG) fell 0.64%. Bank Hapoalim (TASE: POLI) fell 0.39% and Bank Leumi (TASE:LUMI) fell 1.03%. Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE:TSEM) fell 2.06%.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) rose 3.2% for the biggest rise on the Tel Aviv 35 Index. Israel Discount Bank (TASE: DSCT) rose 0.68% and Mizrahi Tefahot Bank (TASE: MZTF) rose 0.47%.

Outside of the Tel Aviv 35 Index, Magic Software Enterprises Ltd. (Nasdaq: MGIC; TASE: MGIC) rose 8.27% after reporting strong fourth quarter and full year 2023 results.

Published by Globes, Israel business news - en.globes.co.il - on March 13, 2024.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.

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