Bethel Finance news:
Israeli stocks inched higher Wednesday, led by strength in drug stocks, including a rebound in shares of Teva Pharmaceutical Industries Ltd., but the advance was limited by weakness in chemicals producers and a few energy stocks.
At midafternoon, the Tel Aviv Stock Exchange’s benchmark TA-25 Index rose 0.3% to 1,335.33, while the TA-100 Index (XX:TA100 1,208.93, -1.11, -0.09%) added 0.3% to 1,213.49.
The TA BlueTech 50 Index, which replaced the Tel-Tech Index as of April 1, gained 0.08% to 289.90. The BlueTech 50 reflects the 50 stocks with the highest market capitalizations drawn from the Technology Index and the Biomed Index.
The most-active issue on the bourse was fertilizer producer Israel Chemicals Ltd. (ISCHF 17.30, -0.28, -1.59%) which slipped 1.6%. Agrichemicals specialist Makhteshim-Agan Industries Ltd. (MAIXY 10.47, 0.00, 0.00%) eased 0.7%.
Shares of Teva (TEVA 50.00, +0.73, +1.48%) recouped 0.8% after dropping almost 3.5% in the previous session on results from a study of laquinimod, its drug to treat relapsing multiple sclerosis.
Peer firm Perrigo Co. (PRGO 86.78, +1.38, +1.62%) climbed 1.2%.
Among companies with interests in the major natural-gas and oil discovery offshore northern Israel, Avner Oil Exploration LP nudged up 0.1%; Delek Drilling LP fell 0.7%; Isramco Negev 2 LP rose 0.5%; and Ratio Oil Exploration LP fell 4.2%.
On Tuesday, the Israeli business daily Globes reported progress in talks under which Israel would export gas from one of the fields via Greece. The two countries are mulling the idea of laying a gas pipeline from the Leviathan field to the Greek coast, the paper reported.
Elbit Systems Ltd.’s (ESLT 56.33, +0.34, +0.61%) shares slipped 0.5%. The defense contractor said its Brazilian subsidiary and Embraer SA would form a joint venture in unmanned aircraft systems. The plan follows Embraer’s award earlier this week of an $85 million contract to the Elbit subsidiary to upgrade F-5 jets for the Brazilian Air Force.
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