Mon: Teva drags market down

Teva tumbled as its bid was rejected by Mylan while Perrigo rose.

The Tel Aviv Stock Exchange (TASE) fell today. The Tel Aviv 25 Index fell 0.20% to 1,684.16 points, the Tel Aviv 100 Index fell 0.31% to 1,467.75 points, and the BlueTech 50 Index fell 0.30% to 381.92 points. Turnover was NIS 1.46 billion.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange rate at NIS 3.931/$, up 0.178% on last Friday's rate, and set the shekel-euro representative exchange rate at NIS 4.26/€, down 0.211%.

In the bond market, the corporate bond benchmark Tel-Bond 20 Index fell 0.15%.

In the stock market, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 2.85% after its takeover bid was rejected by Mylan for the biggest fall on the Tel Aviv 25 Index, on the day's largest trading turnover. Perrigo Company (NYSE:PRGO; TASE:PRGO) rose 0.41%.

Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) fell 1.41% and Avner Oil and Gas LP (TASE: AVNR.L) fell 1.61%.

Israel Discount Bank (TASE: DSCT) rose 1.56% for the biggest rise on the Tel Aviv 25 Index and Mizrahi Tefahot Bank (TASE:MZTF) rose 1.03%. Bank Leumi (TASE: LUMI) was unchanged and Bank Hapoalim (TASE: POLI) fell 0.46%

Published by Globes [online], Israel business news - www.globes-online.com - on April 27, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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