Daily Israel Report
11:33
Reported

News Brief

  8/7/2011, Av 7, 5771

Shares Fall Sharply on TASE After Delayed Opening


After a 40 minute delay, trading on the Tel Aviv Stock Exchange opened to sharp losses Sunday morning. The losses reflected the ebbing confidence of investors in the world economy after Standard and Poor's downgraded U.S. debt on Friday. The TASE is the first major Western equity market to trade since that decision was announced. Trading in a number of Muslim countries Saturday resulted in sharp losses for investors.

At the opening of trading on the TASE Sunday, the TA 25 index was down 5.22%, at 1,094.64 points. The TA 100 index was down 5.56%, at 990.01 points. The Bluetech index was down 4.86%, at 253.49 points. The Real Estate index was down 7%, at 268.9 points.