TA-25 falls, paced by Bank Hapoalim, Bank Leumi

By NEWS AGENCIES
October 11, 2007 07:15

The Tel Aviv-25 Index dropped from a record on Wednesday, led by Bank Hapoalim and Bank Leumi. Bezeq declined after two executives resigned.

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SHARES TEL AVIV The Tel Aviv-25 Index dropped from a record on Wednesday, led by Bank Hapoalim and Bank Leumi. Bezeq declined after two executives resigned. The TA-25 lost 1.95, or 0.2 percent, to 1,185.17. Investors traded about NIS 2.92 billion in shares and convertibles. Bank Hapoalim fell NIS 0.40, or 1.9%, to NIS 21.06. Bank Leumi declined NIS 0.33, or 1.8%, to NIS 18.01. Bezeq lost NIS 0.18, or 2.7%, to NIS 6.50. Two vice presidents resigned, bringing the number of departures of top executives to four this week. AudioCodes jumped NIS 1.43, or 6%, to NIS 25.40. Lehman Brothers Holdings raised its recommendation for the provider of technology for Internet phone calls to "overweight" from "equal weight." Israel Chemicals advanced NIS 1.20, or 3.1%, to NIS 40.50. US-based Mosaic Co. said Tuesday first-quarter profit more than doubled to a record as farmers bought more fertilizer to boost crop yields. Israel Corp., which controls a majority stake in Israel Chemicals, advanced NIS 114, or 3.4%, to NIS 3,500. VeriFone Holdings gained NIS 5.50, or 3.1%, to NIS 184.30. The electronic-payment equipment company's shares will probably trade at $54 within the next 12 months, up from a previous estimate of $43, Merrill Lynch & Co. wrote. WALL STREET The Standard & Poor's 500 Index lost 3.61, or 0.2%, to 1,561.54 during morning trading in New York. The Dow fell 48.61, or 0.3%, to 14,115.92. The Nasdaq Composite Index added 2.06, or 0.1%, to 2,805.97. EUROPE The Dow Jones Stoxx 600 Index gained 0.1 percent to 388.23. France's CAC 40 fell 0.4%, Germany's DAX added 0.1% and the UK's FTSE 100 gained 0.3% to 6,633. The Stoxx 50 dropped less than 0.1% and the Euro Stoxx 50 fell 0.1%. ASIA The Morgan Stanley Capital International Asia Pacific Index rose 0.4%. Japan's Nikkei 225 Stock Average gained 0.1% to 17,177.89, while the broader Topix lost 0.1%. CURRENCY The shekel gained to 4.0310 at 6:32 p.m. against the dollar, from 4.0358 Tuesday. The dollar slipped to $1.4153 against the euro. COMMODITIES Crude oil for November delivery rose 13 cents to $80.39 a barrel during morning action on the New York Mercantile Exchange. Gold futures for December delivery rose $5.60, or 0.8%. to $748.70 an ounce on the Comex division of the NYMEX.


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