TA-25 climbs to record high

The benchmark TA-25 climbed 14.43, or 1.9 percent, to 766.23.

By JONATHAN FERZIGER
October 24, 2005 03:43
2 minute read.

 
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Israeli stocks rose, lifting the Tel Aviv-25 Index to a record high. Teva Pharmaceutical Industries Ltd., the world's biggest maker of generic drugs, led gains after winning a US court battle to sell its version of a cholesterol treatment. The benchmark TA-25 climbed 14.43, or 1.9 percent, to 766.23, a record high, as 24 stocks rose and one fell. Investors bought and sold about NIS 585 million in shares and convertibles. Trading ended two hours early Sunday and the exchange will be closed for the next two days for the Simchat Torah holiday. Regular trading resumes on October 26. Bank Leumi Le-Israel Ltd., Israel's second-biggest lender, rose 0.6%, to NIS 15.27. The Tel Aviv-based bank completed its sale of an 18.2 percent stake in Direct Insurance Financial Investments Ltd. from Bank Leumi, for NIS 116m. to Zur Shamir Holdings Ltd., an Israeli holding company, Leumi said in a stock report October 20. The stock gained 2% that day. Makhteshim Agan Industries Ltd., the world's biggest maker of generic agrochemicals, advanced 3.8%, to NIS 25.22. Syngenta AG, the world's biggest maker of agricultural chemicals, said on Friday that third-quarter revenue gained 2 percent on increased demand for seeds in Latin America and new products. Teva rose 2.5%, to a record NIS 173.60.

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