Published On: Sun, Oct 12th, 2014

TASE follows Wall Street south

Dual-listed stocks under particular pressure are Opko, Teva, Israel Chemicals, Nice Systems, and Perrigo.

ILLUSTRATION

The Tel Aviv Stock Exchange returned from the Sukkot holiday today under pressure after sharp falls and high volatility on Wall Street at the end of last week. The Tel Aviv 25 Index opened with a negative arbitrage gap on dual-listed stocks of more than 1%, and is currently more than 1.5% off. This week will also be a short week for trading, ending on Tuesday before the second part of the holiday, and sessions will end at 14:45.

Last week, the Nasdaq and S&P 500 indices had their worst week since May 2012, and, year-to-date, the Dow Jones index is in negative territory. US investors are apparently concerned about the economic slowdown in Europe, and are interpreting comments by the US Federal Reserve as signs of weakness in the US itself.

Stocks facing particular pressure because of negative arbitrage gaps are Opko Health, Teva, Israel Chemicals, Nice Systems, and Perrigo.

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