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Market Report / Stocks close down on growth warning By Yael Pollak Tags: Finance Ministry, Israel  Tel Aviv stocks retreated further yesterday as news emerged of the Finance Ministry's plan to scale down growth forecasts in 2009. The TA-100 index lost 0.5% to 900 points, while the TA-25 index fell 0.6%, to 984 points. After losing 1.5% last month but gaining 9% since the start of the year, the board of directors of Israel Chemicals decided to buy back as much of 5% of the company's shares. That could come to nearly NIS 3.5 billion. ICL shares responded yesterday by climbing 1.3%. Fears that the global economic slowdown has reached Israel sent shares in the country's big banks sharply downward this week, with Bank Hapoalim and Bank Leumi losing 6.6% and 7.5%, respectively. Yesterday's trading contributed significantly to these losses, with falls of 3.6% and 2.4%, respectively. Advertisement In real estate, Alony Hetz gained 2.8% yesterday after losing 5.2% Wednesday on news that the Midroog rating agency had downgraded its bonds to A1/Stable. The downgrade came about two weeks after Maalot S&P cut its rating for the company, which is controlled by the Wertheim Group and the Hetz family. Delek Real Estate jumped 9% after losing 6.1% Wednesday. Despite higher than expected revenues UBS is recommending watchful waiting with regard to Retalix's performance. UBS analysts Roni Biron and Rami Myerson noted that the retail software provider had beat forecasts for the second quarter but said the real test will be the company's numbers for the second half of the year. That's why the bank kept its recommendation at Neutral but decreased the target share price from $16 to $16. The stock responded by dipping about 2%. Aladdin Knowledge Systems, which recently rebuffed a takeover and merger bid gained over 2.6% yesterday after giving its investors cause for optimism: The data security specialist raised its annual revenue forecast to $120 million, from $112 million (non-GAAP). Aladdin also raised its earnings outlook to 67 cents to 77 cents per share, compared with an earlier estimate of 48 cents to 56 cents per share. Aladdin also announced it has completed its acquisition of the Secure SafeWord product line from Secure Computing Corp., for $65 million in cash, including acquisition costs. Teva Pharmaceuticals is in advanced negotiations to sell its veterinary subsidiary, ABIC, to the U.S. Phibro Animal Health Corporation. In January Teva announced it was getting out of the non-human pharma business, as part of its five-year strategic plan. Bookmark to del.icio.us   But you cannot hide Court rules Michigan resident helped liquidate Polish Jews during Holocaust. Junk TV Airing of first Palestinian soap opera was cancelled because topics were 'too liberal'.

Read & React Pfeffer: Jewish Agency has signed its own death certificate Responses: 74 Nasrallah: We still seek fallen guerillas' bodies Responses: 137 Top IDF officer: Israel not prepared for next war Responses: 135 Chabad envoy to Alaska: Palin staunch friend of Jews Responses: 156 Report: UN to demand Israel pay Lebanon $1 billion in reparations Responses: 95 Abbas: Jerusalem, right of return are inalienable Palestinian rights Responses: 58 More Headlines 20:15 Abbas: Jerusalem, right of return are inalienable Palestinian rights 22:13 Cheney to Peres: Russia supplies weapons to terrorists 15:45 Israeli official denies U.S. supervisors will take part in Israel-Syria peace talks 20:06 Report: UN to demand Israel pay Lebanon $1 billion in reparations 13:19 Iran rejects French warning over possible Israeli strike 10:42 Gaddafi meets Rice during secretary of state's historic Libya trip 08:56 Court rules Michigan resident helped liquidate Polish Jews during Holocaust 13:09 Israeli hacker arrested in Canada for $2 million online fraud 19:18 Why was airing of 1st Palestinian soap opera cancelled? 18:48 65 kilos of drugs seized in 'record raid' in north 03:06 Jewish World / The language of anti-Semitism 11:26 Egypt uncovers three smuggling tunnels on border with Gaza 16:56 VIDEO / Hamas' Meshal agrees to pass Noam Shalit's letter to Gilad 23:17 Palestinians clash with IDF as Israel limits entry for Ramadan Previous Editions Select Day 05 sep 04 sep 03 sep 02 sep 01 sep 31 aug 29 aug 28 aug 27 aug 26 aug 25 aug 24 aug

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