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Daily Israel Report
16:57
Reported

News Brief

  6/3/2012, Sivan 13, 5772

Sharp Losses for Tel Aviv Stocks


Most of the indices on the Tel Aviv Stock Exchange posted sharp losses to open the trading week on Sunday. The TA Composite index closed at 950.89, down 2.23 percent, while a 2.29 percent loss meant a 958.76 closing for the TA 100 and a 1,040.61 closing for the Maof 25 most-widely-invested issues. The 50 stocks just outside the TA 100 declined 1.4 percent to 346.08.

Despite news of more energy off Israel's Mediterranean coast, the oil and natural gas stocks were the worst hit, falling 2.95 percent to 1,095.92, followed by most of the technology index, which finished the day at 332.29, down 2.8 percent, including a one-and-a-half percent decline to 704.54 by the biomed issues. The real estate stocks closed at 268.94, down 2.38, while the insurance index slumped 2.03 percent to 924.58, as the financial institutions finished the day at 810.52, down 1.87 percent, including a 1.13 percent decline to 867.90. The communications and media stocks declined 1.99 percent to 451.34.