TASE opening delayed due to sharp falls
By KOBY YESHAYAHOU / GLOBES
August 21, 2011 15:50
The Tel Aviv Stock Exchange (TASE) opened after a delay today, after the Tel Aviv 25 Index fell by over 2.5 percent in pre-market trading. The Tel Aviv 25 Index was down 3.6% in early trading to 1,027 points and the Tel Aviv 100 Index was down 3.6% to 926 points.
The gloom in global markets and the escalating tensions in the South weighed heavily on the TASE following Thursday's rolling terrorist attacks, the IDF's retaliation in Gaza, and the subsequent rocket barrages against Israeli cities. Investors were closely monitoring developments.
The falls on the TASE follow sharp plunges on global markets on Friday. Nasdaq fell 6.8% on Thursday and Friday, and is down 18.5% from its high point in April.