Sun: Teva tanks as TASE losses mount

Tel Aviv Stock Exchange

Teva plunged ahead of Monday's first quarter results and Perrigo and Mylan fell amid pharma sector gloom. But the banks rose strongly.

The Tel Aviv Stock Exchange fell today. The Tel Aviv 25 Index fell 0.35% to 1,405.91 points; the Tel Aviv 100 Index fell 0.54%, to 1,215.85 points; and the BlueTech Index fell 0.24% to 322.77 points. The TelBond 20 corporate bond index fell 0.06% to 318.25 points. Trading turnover was NIS 598.7 million.

On the foreign currency market, the Bank of Israel set the shekel-dollar representative rate up 0.185% on Friday at NIS 3.788/$, and the representative shekel-euro rate was set up 0.083% at NIS 4.325/€.

On the market, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 5.47% for the biggest fall on the Tel Aviv 25 Index on the day's biggest trading turnover amid general gloom in the pharmaceutical sector. Teva reports its first quarter results tomorrow and there are concerns that regulatory demands is making the Allergan generic acquisition deal less worthwhile that when it was first struck in July. Mylan N.V. (Nasdaq: MYL; TASE: MYL) fell 3.42% and Perrigo Company (NYSE:PRGO; TASE:PRGO) fell 4.75%.

Ormat Technologies Inc. (NYSE: ORA; TASE: ORMT) fell 2.74% despite Thursday's strong results and Israel Chemicals (TASE: ICL: NYSE: ICL) fell 1.06%.

Opko Health Inc. (NYSE: OPK; TASE: OPK) rose 1.71% for the biggest rise on the Tel Aviv 25 Index and Gazit-Globe Ltd. (NYSE: GZT; TASE: GZT; TSX: GZT) rose 1.66%. Delek Group Ltd. (TASE: DLEKG) rose 1.28%.

The banks shares performed strongly today. Bank Hapoalim (TASE: POLI) rose 1.46%, Bank Leumi (TASE: LUMI) rose 1.62% and Mizrahi Tefahot Bank (TASE:MZTF) rose 1.64%.

Published by Globes [online], Israel business news - www.globes-online.com - on May 8, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

Tel Aviv Stock Exchange
Tel Aviv Stock Exchange
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