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Tel Aviv biotech stocks boom on swine flu fever Oh, excuse us, that's "Mexican flu" fever - (see page 5). Anyway, yesterday was the day of the biotech boom in Tel Aviv. Other sectors lost ground, though some clawed back toward the flatline ahead of the close. The benchmark TA-25 index ended 0.5% lower at 795 points and the broader TA-100 index lost 0.6% to 728 points. The Real Estate-15 index lost 0.6%. The Banks-5 index also had a good day, advancing 0.4%. Total turnover remained thin at NIS 1.4 billion, indicating that many an investor remains glued to the fence, torn between getting into the market and not touching it with a barge pole. Advertisement From the start of April, the TA-25 index has gained 9%, completing a 21% climb from the year's start. The TA-25 index has risen 9.3% this month, bringing its gain from January 1 to 29%. Though it decimated share prices in general, as in "yet another global problem looms," the swine flu epidemic in Mexico this week was a boon for biotechs in Tel Aviv. NasVax shares shot up 40% - until the company announced it was not developing a vaccine against the disease. NasVax receded, to close 1% higher. Whereas the Nes Tziona-based company's average daily turnover is NIS 35,000, it was NIS 12 million yesterday. Biotech startup BiondVax, which is developing a vaccine against most human influenza virus strains, skyrocketed 486%, lifting the company's market cap from NIS 2 million to more than NIS 8 million. BiondVax said yesterday it had received approval for a NIS 2.4 million grant from the Chief Scientist to develop the second generation of its vaccine. "We're now waiting for approval from the Health Ministry to begin testing the second generation," said Ron Babecoff, the company's founder, president and CEO. NasVax, which develops a technology platform for stimulating enhanced immune responses, has a market cap of NIS 25 million. The company received approval from the Chief Scientist a few months ago for a NIS 2.4 million R&D grant. Its R&D investment stands at NIS 5.4 million, with about 30% coming from foreign investors. Moving on from deadly diseases, this week on Wall Street will be marked by financial statements from Big Oil, including Exxon, Chevron and Mobil, and Major Media, including Time Warner and Viacom. Over here, the week is more likely to be marked by the brouhaha between the Bank of Israel and Bank Hapoalim, shares of which by the way lost 0.4% yesterday. The Bank of Israel is apparently gearing up to force Hapoalim to fire its chairman, Danny Dankner, if controlling shareholder Shari Arison doesn't do it herself (see page 12). Jerusalem Economic Corporation retreated by 3.5% after Midroog downgraded its bonds by one notch, from A1 to A2. Africa Israel shares lost 2.5%. This has been a highly volatile stock; it gained 60% in the last month after losing 32% in the last week. Investors were unmoved by Clal Finance tut-tutting that Nice Systems isn't making efficient use of its cash. It's sitting on half a billion dollars of cash. Even if it's only getting 1% interest on that loot, it could give money to shareholders as dividends without compromising future acquisitions, Clal F. exhorted. Nice shares gained half a percent. Bookmark to del.icio.us   Swine killed over flu Egypt orders pigs killed in anticipation of pandemic. Obama greets Israel U.S. President salutes Israel's 61st independence day.

Read & React Independence Day / I am a Zionist and I am proud Responses: 138 Barak: Israel can and must make peace within three years Responses: 137 Bradley Burston: Could the Taliban get the bomb before Iran does? Responses: 65 'Every step that strengthens Hamas only distances peace' Responses: 114 More Headlines 23:26 Peres: Bombing Iran may not be the 'best solution' 00:12 All four suspected swine flu victims in Israel test negative 23:23 Lieberman: Israel has worked to achieve peace since its creation 13:51 Obama congratulates Israel on turning 61 23:28 How Gideon Levy's first scoop got buried 15:40 'Israel's response to drill with Syria doesn't concern us' 22:42 IN PICTURES / Israel celebrates 61st Independence Day 21:43 WATCH: Daily news round-up from Israel 00:13 Netanyahu: Israel to do all in its power to bring Shalit home 19:30 German confesses to selling rocket material to Iran 14:27 Israeli Arabs mark 61st anniversary of Nakba 18:19 Probe into suspected draft-dodging promoters draws fire 18:46 Egypt orders slaughter of all pigs over swine flu Previous Editions Select Day 29 apr 28 apr 27 apr 26 apr 24 apr 23 apr 22 apr 21 apr 20 apr 19 apr 17 apr 16 apr

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