Tel Aviv stocks close lower as insurance and cleantech shares weigh on market, Teva rises 4.2%

Trading on the Tel Aviv Stock Exchange closed Wednesday lower, weighed down by insurance and cleantech shares. The TA-35 fell 0.9% and the TA-125 dropped 1.1%. The cleantech index declined 4.1%, the insurance index fell 2.6%, while the oil and gas index jumped 2.5%. Mivtach Shamir plunged 9.8%, after Calcalist reported that its subsidiary Shamir Energy is preparing for an IPO. Teva rose 4.2% after announcing it will lay off 250 employees in Israel over the next two years.

At the same time, the dollar and the euro continue to strengthen against the shekel. The U.S. currency was trading in continuous trade at around 2.98 shekels, while its official rate was set today at 2.97. The euro was trading at around 3.43 shekels, unchanged from its official rate.

Yesterday, the Tel Aviv stock exchange fell by about 1%. The TA-35 fell 1.1%, the TA-125 dropped 0.9% and the TA-90 fell 0.6%.