Tel Aviv stocks plummet by over 4%

Declines in world markets spark losses; real estate stocks down by over 6%.

By JPOST.COM STAFF
July 29, 2007 20:48
Tel Aviv stocks plummet by over 4%

global agenda 88. (photo credit: )

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

The Tel Aviv stock market on Sunday closed with large declines that continued Thursday's trend. The devaluation is mainly attributed to sharp declines in markets worldwide over the weekend. The index lost seven percent over the past two days, which sets it back three months. The TA 25 Index lost 4.21 percent and closed at 1,089.27 points, the TA 100 Index lost 4.35 percent, while the Tel Tec was devalued by 4.06 percent, closing at 406.93 points. Real estate stocks plummeted by 6.07 percent. On Wall Street, the GDP report failed to ease investors' fears about housing. The Dow Jones industrial average tumbled 208.10 points on Friday. One day earlier, the index suffered its second biggest drop of the year, plunging by 311.50 points. The culprit: investors' heightened anxiety that troubles in the housing and home-mortgage markets could spread. The Shekel's devaluation against the dollar and concerns that interest rates would rise for the second month in a row were also in the background of the sharp declines. Over the past week, the USD gained 2.5 percent versus the Shekel. AP contributed to this report.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection

By GLOBES, NIV ELIS