Business in Brief / Tel Aviv Shares Rally Despite Terror Attacks

Dollar extends losses against shekel to three-week low; CyberArk buys Israeli startup Viewfinity for $30.5 million; Mazor sells only three Renaissance systems in quarter.

Yael Engelhart

Tel Aviv shares rally despite terror attacks

Tel Aviv shares ignored two terror attacks Wednesday to end sharply higher. The benchmark TA-25 index ended 1.4% higher at 1,534.86 points, while the TA-100 added 1.1% to 1,337.14, all on turnover of 1.26 billion shekels ($330 million). The fixed-income market was up strongly, too, with the government’s 10-year shekel bond ahead 0.25% to lower its yield to 2.15%. Its inflation-linked bond rose 0.56% to a yield of 0.75%. Bezeq and Israel Chemicals led blue chip gainers, advancing 4.65% to 7.94 shekels and 4.7% to 21.62 shekels, respectively. Oil shares were also up sharply as a recovery in oil prices spread to stock markets. Ratio ended up 7.2% to 27 agorot while Avner rose 5.35% to 2.27. Delek Group jumped 5.9% to 9.14 shekels. But Teva Pharmaceuticals ended down 2.7% to 220.80 shekels and Perrigo lost 2.2% to 610.809 amid an extended rout of U.S. drug stocks. Spacecom finished 1.1% higher at 56.44 shekels after it said Facebook would be using its Amos 6 satellite. (Shelly Appelberg)

Dollar extends losses against shekel to three-week low

The dollar extended its losses against the shekel Wednesday, as traders downgraded prospects for an imminent U.S. interest cut. The dollar’s Bank of Israel rate was set at 3.850 shekels, a loss of 0.6% and its lowest in nearly three weeks. In late trading it was lower still at 3.8471. The day before the greenback lost 1.3% and as recently as September 25 it was at 3.949 shekels. The euro, which weakened 0.8% on Tuesday, lost another 0.3% Wednesday to 4.346 shekels. David Masika, CEO of Matach24, said the dollar was weakening after a disappointing U.S. jobs report on Friday encouraged speculation that the U.S. Federal Reserve would not be raising interest rates until next year, later than originally predicted. “Expectations by local analysts of a dollar trading at over four shekels is now a distant prospect because of the correction that has set in,” Masika said. (Shelly Appelberg)

CyberArk buys Israeli startup Viewfinity for $30.5 million

CyberArk, the maker of network security technology, said Wednesday it had made its second acquisition of an Israeli startup in recent months, paying $30.5 million for Viewfinity. The startup, based in Waltham, Massachusetts with research and development offices in Beit Dagan, helps companies protect themselves after a security breach has been detected, limiting the attacker’s ability to move beyond their initial point of entry. The company was formed in 2007 by CEO Leonid Shtilman, President Gil Rapaport and Chief Technology Officer Dmitry Barboi, and had raised venture capital of $28.6 million from Giza, JK&B Capital and Longworth Venture Partners. It employs about 30 people, who are expected to join CyberArk. CyberArk said Viewfinity would contribute about $7 million to $9 million in revenue and will be accretive to non-GAAP earnings per share for 2016. CyberArk shares were up 0.9% at $52.69 late mooring local time in New York. (Omri Zerachovitz)

Mazor sells only three Renaissance systems in quarter

Mazor Robotics sold only three of its Renaissance surgical guidance systems in the third quarter, down from five a year earlier and seven in this year’s second quarter. Nonetheless, the company said on a statement Tuesday it was optimistic about the remainder of the year. “Our sales team was also actively engaged in several high-level commercial discussions when the third quarter ended. We continue to pursue these and other opportunities, and expect to install more Renaissance systems in the second half of 2015 as compared to the first half,” said CEO Ori Hadomi, hinting that sales would reach eight systems in the final quarter. He added that the three systems were delivered to U.S. hospitals representing new markets, including the first two in the New York metropolitan area. Mazor shares ended down 0.5% at 22.13 shekels ($5.75). (Yoram Gabison)