SHARES
Oil traders work in the options pit on the floor of the New York Mercantile Exchange yesterday
Photo: Richard Drew , AP
TEL AVIV
The TA-25 Index fell the most in almost a month, dropping 18.27, or 1.7 percent, to 1,031.89 at the close in Tel Aviv. Investors traded about NIS 1.52 billion in shares and convertible securities.
Africa Israel Investments dropped 4.1%. The real-estate company's Russian assets that are still under development probably won't be completed on time, Channel 10 reported in a documentary Tuesday, citing Russian construction companies.
Darban Investments rose 3.6%. A report showed the real-estate company owned by Eliezer Fishman is worth 80% more than Tuesday's market value.
Oil Refineries rose to the highest level in a year, increasing 3.6%. The country's largest refiner said it was worth as much as $2.1b., according to an accountant's valuation prepared as part of the company's purchase of Carmel Olefins.
WALL STREET
US stocks fell, extending a global slump, as an unexpected decrease in new-home sales added to concern the seven-month rally in equities outpaced prospects for economic growth.
Alcoa, Caterpillar and Intel dropped at least 3.6% to lead declines in the Dow Jones Industrial Average. Home builders Lennar and D.R. Horton tumbled more than 5.8% after the Commerce Department said sales of new homes fell 3.6% in September.
The Standard & Poor's 500 Index retreated 2% to 1,042.63 at 4:08 p.m. in New York for its steepest decline since October 1. The Dow slid 119.48 points, or 1.2%, to 9,762.69.
EUROPE
European stocks dropped by the most in almost four months as SAP, the world's biggest maker of business-management software, cut its sales forecast and ArcelorMittal reported earnings that missed estimates.
SAP slumped 7.7% after also reporting third-quarter profit that trailed analysts' projections. ArcelorMittal led basic-resource producers lower as metals dropped and the world's largest steelmaker said it might report a full-year loss. Deutsche Lufthansa sank 5.5% after saying its 2009 forecast is "subject to very considerable risks."
National benchmark indexes retreated in all 17 western European markets that were open. The Athens stock exchange was closed for a holiday. The UK's FTSE 100 slid 2.3% to 5,080.42. Germany's DAX fell 2.5%, and France's CAC 40 lost 2.1%.
ASIA
Asian stocks fell, dragging the MSCI Asia Pacific Index to a three-week low, as losses at National Australia Bank and Canon's lower profit raised concern about the strength of the global recovery.
National Australia fell 2.8% after posting a second-half loss amid rising bad-debt charges. Canon, the world's largest camera maker, lost 3.4% as it reported its seventh-straight drop in quarterly profit.
Japan's Nikkei 225 Stock Average lost 1.4% to 10,075.05. China's Shanghai Composite Index added 0.3%, South Korea's Kospi Index slumped 2.4, Australia's S&P/ASX 200 Index dropped 1.4% and Hong Kong's Hang Seng Index fell 1.8%.
CURRENCIES
The shekel weakened against the dollar for a fourth day as investors increased bets that a global recovery may not be as smooth as previously anticipated.
The shekel dropped the most in one month, sliding 0.8% to 3.7574 to the dollar at 5:39 p.m. in Tel Aviv.
The dollar advanced 0.7% to $1.4697 per euro at 4:15 p.m. in New York, from $1.4804 on Tuesday.
COMMODITIES
Crude oil for December delivery fell $2.09, or 2.6%, to end the session at $77.46 a barrel at 2:51 p.m. on the New York Mercantile Exchange.
Gold futures for December delivery fell $4.90, or 0.5%, to $1,030.50 an ounce on the Comex division of the New York Mercantile Exchange.
