Sun: TASE falls on Omicron variant concerns

Ormat and ICL led the steep falls on the TASE today but Elbit Systems bucked the market.

The Tel Aviv Stock Exchange fell today. The Tel Aviv 35 Index fell 1.48%, to 1,868.41 points; the Tel Aviv 125 Index fell 1.58%, to 1,955.74 points; and the BlueTech Global Index fell 1.54% to 549.64 points. The All Bond corporate bond index fell 0.02% to 395.87 points. Turnover totaled NIS 1.71 billion in equities and NIS 2.31 billion in bonds.

On the foreign exchange market, the Bank of Israel set the representative shekel-dollar rate up 0.760% on Friday, at NIS 3.181/$, and the representative shekel-euro rate was set 1.127% higher at NIS 3.582/€.

The market was sharply down due to global concerns about the outbreak of the Omicron variant of Covid-19 and the steep fall in international markets on Friday. But the falls moderated in afternoon trading. Ormat Technologies Inc. (NYSE: ORA; TASE: ORA) fell 5.83% for the biggest fall on the Tel Aviv 35 Index today. ICL (TASE: ICL: NYSE: ICL) fell 2.82%, NICE Systems Ltd. (Nasdaq: NICE; TASE:NICE) fell 1.02% and Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 1.83%.

Bank Leumi (TASE:LUMI) led the market, falling 0.63% on the day's biggest trading turnover. Bank Hapoalim (TASE: POLI) fell 1.27%, Israel Discount Bank (TASE: DSCT) fell 1.43% and First International Bank of Israel (TASE:FTIN1; FTIN5) fell 0.86%.

Elbit Systems Ltd. (Nasdaq: ESLT; TASE:ESLT) rose 1.12% for the biggest rise on the Tel Aviv 35 Index and LivePerson Inc. (Nasdaq: LPSN; Nasdaq: LPSN) rose 0.86%.

Outside of the Tel Aviv 35 Index Delek Group Ltd. (TASE:DLEKG) fell 4.6%, despite reporting strong third quarter results, because of the fall of oil prices on world markets.

Published by Globes, Israel business news - - on November 28, 2021.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2021.

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