A dip on Wall Street over the weekend weighed on Tel Aviv shares in a quiet trading session ahead of a two-day Independence Day holiday break.
- Israeli pharma giant Teva weighing sale on oncology business
- TASE head calls on gov’t to slash capital gains tax
- Meitav Dash sale to XIO in jeopardy due to approval delays
The TA-35 and TA-125 indices both ended down about 0.5% at 1,398.75 and 1,265.22 points, respectively, on turnover of just 629 million shekels ($174 million).
After four straight sessions of gains, insurance stocks turned lower, paced by a 2.9% drop to 195.10 shekels for Phoenix. Other big losers were Bank Leumi, down 1.4% to 16.72, and SodaStream, down 2.35% to 195.10. Sapiens fell 1.7% to 44.20, bringing its losses since it reported on Thursday that it had halted a contract with a key customer to about 10%.
Among gainers, Perrigo finished up 2.2% at 268.90 and El Al Airlines added 1.6% to 2.88.
In the bond market, the government’s 10-year Shahar bond extended gains, rising 0.28% to cut its yield to 2.18%. The U.S. real estate company Southern Properties raised 100 million shekels in a private placement. Over the weekend in the U.S. Energuate, a unit of Kenon Holdings’ IC Power subsidiary, raised $330 million of 10-year bonds paying 5.9%.
In foreign currency trading Friday, the dollar and euro were down sharply: The greenback weakened 0.7% to 3.6190 and the euro nearly 0.8% to 3.9395.