Market Report: TASE Closes Down; Shekel Gains

Jerusalem, 16 October, 2017 (TPS) -- The Tel Aviv Stock Exchange closed the day in the red Monday as the TA-125 dropped 0.46% and the TA-35 slipped 0.38%.

Teva Pharmaceuticals (TEVA) continued to fall, dropping 1.28% on heavy turnover of NIS 253 million, more than five times its daily average over the past month. The turnover resulted from the monthly index paramaters update. TEVA is now down by over 60% since the start of the year, which has seen it post poor results, announce a massive downsizing program, bring in a new CEOs and lose its exclusivity on its Multiple Sclerosis drug Copaxone.

El Al Airlines (ELAL) dropped 2.3% to a two-year low. The carrier has lost close to 40% in less than half a year and after poor September figures it will post quarterly results on Tuesday.

Kitov Pharmaceuticals (KTOV), which was up a massive 24.14% on Sunday, dropped back by 0.69%. Sunday’s other big winner autonomous driving technology developer Foresight (FRSX), added 2.58% after shooting up 16.55% on the week’s first day of trade.

Electronics industry supplier Prior-tech (PRTC) fell 8.71% on reports of a fire at one of its factories in China.

On the foreign currency markets, the shekel was up against both the dollar and the euro. The dollar-shekel rate slipped 0.14% to close at a representative rate of NIS 3.496 while the euro was set at NIS 4.125.