Wednesday, November 2, 2011

Bethel Finances: Teva slumps on mixed results

www.bethelfinance.com

The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 0.13% to 1,100.68 points, the Tel Aviv 100 Index fell 0.09% to 995.28 points, and the BlueTech 50 Index fell 0.21% to 267.60 points. Turnover was NIS 1.32 billion.

The TASE end the day in negative territory, after seesawing throughout the session, despite gains in European markets and in early trading on Wall Street.

In the bond market, long-term Shahar unlinked government bonds rose by up to 0.1%, but long-term Galil CPI-linked bonds fell by up to 0.2%. The corporate bond benchmark Tel-Bond 20 Index rose 0.26%.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.651/$, up 0.03% on yesterday's rate, and set the shekel-euro representative exchange rate at NIS 5.038/€, up 0.55%.

In the stock market, Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) fell 3%, for the biggest loss among Tel Aviv 25 shares, and on the day's largest turnover of NIS 120 million, after publishing mixed results for the third quarter.

Delek Group Ltd. (TASE: DLEKG) rose 3.8% and units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) rose 4.4% and 4.3%, respectively, for the biggest gains among Tel Aviv 25 shares. DS Apex today initiated coverage of Delek Group with an "Outperform" recommendation. Bank Leumi today gave Avner a "Market perform" recommendation and Delek Drilling an "Outperform" recommendation.

Given Imaging Ltd. (Nasdaq: GIVN; TASE: GIVN) rose 6% after publishing good third quarter financials, and Alvarion Ltd. (Nasdaq: ALVR; TASE: ALVR) was unchanged after publishing poor financials and announcing an acquisition.

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