BREAKING NEWS

Market fears further falls after 8-day losses

By GLOBES

AUGUST 8, 2011 10:03

There was again major tension on the Tel Aviv Stock Exchange (TASE) Monday morning. On Sunday, the Tel Aviv 25 Index lost 7% after Standard & Poor's lowered the US credit rating and sent panic throughout the global economy. The Tel Aviv 25 had lost 6.3% last week.

As feared the TASE looked set for a ninth straight day of losses with the Tel Aviv 25 Index down a further 2.5% on the opening. But within the first half hour the losses moderated and at 9:30 a.m. the Tel Aviv 25 Index was down 0.9% to 1064.76 points.

Altshuler Shaham Ltd. co-CEO Gilad Altshuler expects to see more foreign players active on the TASE today.

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