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Real Estate Crisis, Wall St Cause Panic On TASE
Reported: 15:04 PM - Aug/05/07
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(IsraelNN.com) Investors are dumping shares in heavy trading on the Tel Aviv Exchange Sunday following the crisis in the Heftziba real estate company and Friday's sell-off in New York. Major indices are down by more than three percent, and options on the dollar-shekel rate are trading above 4.34.
The collapse of Heftziba has affected other companies, including Elco and Soleh Boneh, which are major contractors for the company, and Bank HaPoalim and Bank Leumi, which are its major creditors.
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