Sun: Bezeq pyramid collapse continues as TASE slides

Bezeq and Teva led TASE down sharply today as Shapir and IFF bucked the market.

The Tel Aviv Stock Exchange fell today. The Tel Aviv 35 Index fell 1.31% to 1,530.71 points; the Tel Aviv 125 Index fell 1.25% to 1,401.39 points; and the BlueTech Global Index fell 1.32% to 379.51 points. The TelBond 20 corporate bond index rose 0.11% to 355.21 points. Trading turnover was NIS 432.8 million.

On the foreign currency market, the Bank of Israel set the shekel-dollar representative rate up 0.055% last Wednesday at NIS 3.608/$ from Tuesday's rate and set the shekel-euro rate up 0.161% at 4.099/€. There has been no foreign currency trading since because of the Purim holiday.

On the market, Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) fell 4.17% on the day's largest trading turnover after falling 7.1% in the last trading session on Wednesday before the Purim holiday. Parent company B Communications Ltd. (Nasdaq:BCOM; TASE: BCOM) fell another 9.77% today after falling 41.56% last Wednesday after announcing that it was halting debt repayments.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 3.61% Israel Chemicals (TASE: ICL: NYSE: ICL) fell 1.82% and NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) fell 1.82%. Bank Leumi (TASE: LUMI) fell 1.64%, Bank Hapoalim (TASE: POLI) fell 1.55% and Israel Discount Bank (TASE: DSCT) fell 2.10%.

Shapir Engineering & Industry Ltd. (TASE: SPEN) rose 2.67% for the biggest rise on the Tel Aviv 35 Index after publications of its 2018 financial results. International Flavors & Fragrances Inc. (NYSE: IFF; TASE: IFF) rose 2.01% and Opko Health Inc. (NYSE: OPK; TASE: OPK) rose 1.69%. Alony Hetz Property and Investments Ltd. (TASE: ALHE) rose 1.67%, Amot Investments Ltd. (TASE:AMOT) rose 1.16% and Oil Refineries Ltd. (TASE:ORL) rose 1.4%.

Published by Globes, Israel business news - en.globes.co.il - on March 24, 2019

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

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