Sun: Perrigo, Teva lead TASE rout

Tel Aviv Stock Exchange Photo: Eli Yizhar
Tel Aviv Stock Exchange Photo: Eli Yizhar

Perrigo and Teva fell heavily on the worst TASE daily performance since 2011.

The Tel Aviv Stock Exchange fell very sharply today in line with Wall Street on Friday. The Tel Aviv 35 Index fell 5.06% to 1,449.37 points; the Tel Aviv 125 Index fell 4.72% to 1,314.81 points; and the BlueTech Global Index fell 5.57% to 317.63 points. The TelBond 20 corporate bond index fell 1.22% to 335.30 points. Trading turnover was NIS 1.64 billion, an exceptionally high amount for a Sunday.

Today's heavy falls come after the Tel Aviv 35 Index fell 4.4% last week, leaving it up 1.1% since the beginning of 2018. Today's further falls make it seem likely that the market will end 2018 with negative returns.

On the foreign currency market, the Bank of Israel set the shekel-dollar representative rate up 0.426% at NIS 3.773/$ on Friday and set the shekel-euro rate up 0.420% at 4.323/€.

On the market, Perrigo Company (NYSE:PRGO; TASE:PRGO) fell a massive 28.76% for the biggest fall on the Tel Aviv 35 Index after being presented with a €1.6 billion tax assessment by the Irish government. Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 7.95% and Opko Health Inc. (NYSE: OPK; TASE: OPK) fell 7.55%.

Bank Leumi (TASE: LUMI) fell 3.93% on the day's biggest trading turnover. Bank Hapoalim (TASE: POLI) fell 4.32% and Israel Discount Bank (TASE: DSCT) fell 3.46%.

Delek Group Ltd. (TASE: DLEKG) fell 3.47%, Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) fell 3.28%, NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) fell 2.08% and Azrieli Group Ltd. (TASE: AZRG) fell 2.67%.

Published by Globes, Israel business news - en.globes.co.il - on December 23, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

Tel Aviv Stock Exchange Photo: Eli Yizhar
Tel Aviv Stock Exchange Photo: Eli Yizhar
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