Tue: Teva slump pulls down market

Teva, Perrigo and Delek fell sharply today but Frutarom and Strauss gained ground.

The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 1.45% to 1,659.99 points, the Tel Aviv 100 Index fell 1.72% to 1,442.45 points, and the BlueTech 50 Index fell 2.13% to 373.77 points. Turnover was NIS 1.55 billion.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.894/$, down 0.941% on yesterday's rate, and set the shekel-euro representative exchange rate at NIS 4.254/€, down 0.127%.

In the bond market, the corporate bond benchmark Tel-Bond 20 Index fell 0.09%.

In the stock market, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 4.48%, on the day's biggest trading turnover, on yesterday's news that Mylan Inc. has rejected its takeover bid. Perrigo Company (NYSE:PRGO; TASE:PRGO) fell 3.92% after itself rejecting Mylan's takeover bid. Opko Health Inc. (NYSE: OPK; TASE: OPK) fell 5.77% for the biggest fall on the Tel Aviv 25 Index.

Delek Group Ltd. (TASE: DLEKG) fell 5.31% and its energy exploration and production units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling Limited Partnership (TASE: DEDR.L) fell 3.97% and 2.26% respectively.

Among the gainers today were Frutarom Industries Ltd. (TASE: FRUT; LSE:FRUT; OTCBB:FRUTF), which rose 1.45% for the largest rise on the Tel Aviv 25 Index, and Strauss Group Ltd. (TASE:STRS), which rose 0.97%.

Published by Globes [online], Israel business news - www.globes-online.com - on April 28, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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