Aug.03, 2012 | 5:53 AM–Disappointment that the European Central Bank is delaying action on euro debt pushed shares on the Tel Aviv Stock Exchange lower yesterday. Technology shares were down sharply for another session.
The blue chip TA-25 index finished 1% lower at 1,096.01 points while the broader TA-100 finished off 1.2% at 984.48. The TA-Banking index dropped 0.1% to 814.73 and the Real Estate-15 lost 0.1% to 248.56. For the week, the TA-25 edged up 0.3% and the TA-100 ended down 0.4%.
The TA-Blue-Tech- 50 finished down 3.4% to 336.19 and the TA-Technology index went down 3.6% to 350.50. Technology stocks were weighed down by Liveperson, the dual-listed web analysts company, which plunged 15.2% after the company cuts its 2012 profit forecast by nearly a quarter.
Liveperson, which is listed in Tel Aviv and on the Nasdaq with a market capitalization of some NIS 4 billion, also came in under analysts’ estimates for its second-quarter earnings.
Allot Communications and Nice Systems, two companies that reported second-quarter results on Wednesday, also contributed to the decline. Allot, whose quarterly earnings soared 85% in the year, dropped 5.4% yesterday while Nice, which downgraded its 2012 outlook, extended its decline by another 5.5%. Computer translation company Babylon also ended down, falling 6.8%…Read More>>