Tue: Teva rally gains steam

Teva rose strongly for the second successive session, lifting the TASE, while Israel Corp and Israel Chemicals led the declines.

The Tel Aviv Stock Exchange rose today. The Tel Aviv 35 Index rose 0.27% to 1,580.80 points; the Tel Aviv 125 Index rose 0.45% to 1,490.23 points; and the BlueTech Global Index rose 1.21% to 369.35 points. The TelBond 20 corporate bond index rose 0.07% to 365.56 points. Trading turnover was NIS 1.01 billion.

On the foreign currency market, the Bank of Israel set the shekel-dollar representative rate down 0.592% at NIS 3.524/$ from Monday, and set the shekel-euro rate down 0.762% at 3.905/€.

On the market, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) rose 6.95%, for the biggest rise on the Tel Aviv 35 Index today, a steep rise for the second successive session, on news that Endo had settled for modest compensation on the opioid legislation with the State of Ohio. The Phoenix Holdings Ltd. (TASE: PHOE1;PHOE5) rose 2.95% and Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) rose 1.41% on news of an Israel defense contract win. Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE: TSEM) rose 1.25%, Paz Oil Company Ltd. (TASE:PZOL) rose 1.75% and Strauss Group Ltd. (TASE:STRS) rose 1.41%.

Israel Chemicals (TASE: ICL: NYSE: ICL) fell 2.59% and parent company Israel Corporation (TASE: ILCO) fell 3% for the biggest fall on the Tel Aviv 35 Index today. Ormat Technologies Inc. (NYSE: ORA; TASE: ORA) fell 1.39% and Bank Hapoalim (TASE: POLI) fell 0.64% on the day's biggest trading turnover.

Published by Globes, Israel business news - en.globes.co.il - on August 20, 2019

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

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