Sunday, August 7, 2011

Indicators: Dually Listed (U.S. or London/Tel Aviv) Israeli Stocks Trade Down

Here's the headline at Bloomberg:
Israel’s TA-25 Index Tumbles Most Since 2000; Nears Bear Market

The TA-25 are the largest market caps, the TA-100 is a broader index.

The TelAviv Stock Exchange was closed on Friday so there is an element of catch up in the action.
If you recall, Thursday was a pretty rough day in Europe and the U.S..

There are around 60 stocks that are dually listed on the TASE and another exchange, most have tiny market caps, I've bolded the larger ones.

Allot Communications (ALLT:US)
Alon USA Energy, Inc. (ALJ:US)
Amdocs Limited (DOX:US)
Check Point Software Technologies Ltd. (CHKP:US)
Cimatron Limited (CIMT:US)
Elbit Systems (ELBT:US)
LivePerson (LPSN:US)
Nice Systems (NICE:US)
Perrigo Company (PRGO:US)
Pluristem Therapeutics (PSTI:US)
Protalix BioTherapeutics (ALX:US)
Sodastream (SODA)
Teva Pharmaceutical Industries Ltd (TEVA:US)
Verifone (PAY:US)

...and many more.

LivePerson was up 1.95%.
The third most active issue was TEVA, down 4.71%
Perrigo was down 6.75%
NICE was not, down over 9%

In general, the dually listeds are down 4-12%.
The Israeli oil stocks are particularly hard hit, the index is down 9.5%