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Article: Euro falls to lowest level against dollar

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Jerusalem Post
Article date:
June 3, 1999
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Jerusalem Post
06-03-1999
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TEL AVIV

Stocks fell for a fourth day, led by banks, on concernthat Prime Minister-elect Ehud Barak will name a financeminister who will be lax in trimming government spendingand in pushing to slow inflation.

Stock prices were also damped on expectations consumerprices in May are likely to rise, making it less likelythat the Bank of Israel will reduce interest rates. Also,the Finance Ministry said tax revenue during the first fivemonths of the year lagged behind forecasts by NIS 1.5billion.

The Maof Index fell 2.33 percent to 389.20 afterfalling 0.41% Tuesday. Twenty-two companies declined and...

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