Wed: Teva fails to lift market

Teva rose strongly but the banks dragged the TASE down today.

The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 0.69% to 1,648.56 points, the Tel Aviv 100 Index fell 0.65% to 1,433.11 points, and the BlueTech 50 Index fell 0.67% to 371.28 points. Turnover was NIS 1.32 billion.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate down 0.565% from yesterday's rate at NIS 3.872/$, and set the shekel-euro representative exchange rate at NIS 4.262/€, up 0.19%.

In the bond market, the corporate bond benchmark Tel-Bond 20 Index rose 0.25%.

In the stock market, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) rose 1.41% on the day's biggest trading volume for the biggest rise on the Tel Aviv 25 Index. Perrigo Company (NYSE:PRGO; TASE:PRGO) fell 0.69% despite an improved takeover offer from Mylan.

Delek Group Ltd. (TASE: DLEKG) was one of very few other Tel Aviv 25 Index shares to rise, up 0.64%.

The banks fell hard today. Bank Hapoalim (TASE: POLI) fell 1.78%, Bank Leumi (TASE: LUMI) fell 1.77% and Israel Discount Bank (TASE: DSCT) fell 0.87%.

Gazit-Globe Ltd. (NYSE: GZT; TASE: GZT; TSX: GZT) fell 2.08%, Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) fell 1.55%, and Israel Corporation (TASE: ILCO) fell 2.16% for the biggest fall on the Tel Aviv 25 Index today.

Published by Globes [online], Israel business news - - on April 29, 2015

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

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