TASE tense amid volatile global trading

By KOBY YESHAYAHOU / GLOBES
August 11, 2011 09:02

 
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Traders were tense at the Tel Aviv Stock Exchange (TASE) on Ahad Ha'am Street Thursday morning after the Dow Jones Index on the New York Stock Exchange fell 4.6 percent Wednesday.

Earlier Wednesday, all the leading indices fell sharply on the TASE, with the Tel Aviv 25 Index giving up morning gains of nearly 2% to end the day down 2.82% at 1,059.68 points.

Market traders expected another day of unpredictable fluctuations, but the mood was not all gloom Thursday morning, with many hoping that the late falls on the TASE took into account the falls to come on Wall Street, while Asian markets were mixed Thursday morning with rises in Seoul and Shanghai although Tokyo was down. Moreover, futures contracts on Wall Street later Thursday point towards market rises of 1.5-1.6%.

An additional worry weighing on the market will be talk of a potential credit rating downgrade for France.

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