Wed: Teva tanks as global recession fears grip TASE

Teva, Bezeq and the banks led the TASE down as Opko bucked the market.

The Tel Aviv Stock Exchange fell today as global recession fears gripped the market as yields in some sectors of the US bond market went into negative and the German economy contracted in the second quarter. The Tel Aviv 35 Index fell 2.89% to 1,564.42 points; the Tel Aviv 125 Index fell 2.51% to 1,471.14 points; and the BlueTech Global Index fell 2.10% to 356.87 points. The TelBond 20 corporate bond index fell 0.10% to 366.87 points. Trading turnover was NIS 1.42 billion.

On the foreign currency market, the Bank of Israel set the shekel-dollar representative rate down 0.114% today at NIS 3.489/$ from Tuesday, and set the shekel-euro rate down 0.477% at 3.902/€.

On the market, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 8.55% for the biggest fall on the Tel Aviv 35 Index after Moody's revised its outlook from stable to negative. Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) fell 5.34% and Israel Chemicals (TASE: ICL: NYSE: ICL) fell 4.03%. Bank Leumi (TASE: LUMI) fell 2.96% on the day's biggest trading turnover. Mizrahi Tefahot Bank (TASE:MZTF) fell 4.77%, Bank Hapoalim (TASE: POLI) fell 1.38% and Israel Discount Bank (TASE: DSCT) fell 3.04%. Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) fell 4.69%, NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) fell 0.96% and Shufersal Ltd. (TASE:SAE) fell 4.51%.

Opko Health Inc. (NYSE: OPK; TASE: OPK) rose 1.32% for the biggest rise on the Tel Aviv 35 Index. Azrieli Group Ltd. (TASE: AZRG) rose 0.46% and Ormat Technologies Inc. (NYSE: ORA; TASE: ORA) rose 0.68%.

Published by Globes, Israel business news - en.globes.co.il - on August 14, 2019

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

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