Wed: Teva slump drags down TASE

Teva fell sharply after a reimbursement snub as energy stocks exacerbated losses on the market.

The Tel Aviv Stock Exchange fell today. The Tel Aviv 35 Index fell 0.23% to 1,609.39 points; the Tel Aviv 125 Index fell 0.06% to 1,455.42 points; but the BlueTech Global Index rose 0.02% to 388.14 points. The TelBond 20 corporate bond index fell 0.01% to 347.04 points. Trading turnover was NIS 1.23 billion.

On the foreign currency market, the Bank of Israel set the shekel-dollar representative rate up 0.110% at NIS 3.649/$ from yesterday's rate and set the shekel-euro rate down 0.206% at 4.214/€.

On the market, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 4.34% for the biggest fall on the Tel Aviv 35 Index after reports that a major health insurance company has refused to reimburse patients using the pharmaceutical company's new migraine treatment. Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) fell 2.32%, Delek Group Ltd. (TASE: DLEKG) fell 1.57%, Delek Drilling LP (TASE: DEDR.L) fell 1.64% and Oil Refineries Ltd. (TASE:ORL) fell 1.69%.

Opko Health Inc. (NYSE: OPK; TASE: OPK) rose 1.69% for the biggest rise on the Tel Aviv 35 Index and Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) rose 1.25%.

Outside the Tel Aviv 35 Index, Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS) rose 3.6% on news that Hapoalim is selling its stake to IDB Development.

Published by Globes, Israel business news - en.globes.co.il - on October 17, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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