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Article: TASE falls led by bank declines
- Article from:
- Jerusalem Post
- Article date:
- June 11, 1998
- Author:
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Bloomberg
Jerusalem Post
06-11-1998
Stocks fell yesterday led by bank shares, amid disappointment that Mizrahi Bank Ltd. dropped in its first day of trading.
Stocks also were depressed after declines in Asian and European markets, and the Maof Index of Israel's 25 largest companies fell 1 percent to 349.87.
"We joined the rest of the world and fell," said Doron Tsur, director of research at Sahar Securities. Mizrahi Bank's decline depressed stocks, "because this was considered to be a successful issue," he said. "The government sold what it wanted, at a higher price than expected." Israel last week sold 35 percent of Mizrahi, the nation's fourth-largest bank, at a higher-than-expected NIS ...