Israeli shares traded in New York are heading for their worst month on record on concern global economic growth is faltering and the Palestinian Authority’s quest for statehood may destabilize the country.
The Bloomberg Israel-US 25 Index of the largest Israeli companies that trade in the U.S. retreated 0.2 percent to 85.48 yesterday, extending its August drop to 13 percent, the worst monthly performance in data going back to September 2005. SodaStream International Ltd. (SODA), the maker of machines that carbonate water, led the gauge’s decline, falling 50 percent after its profit forecast trailed estimates. Teva Pharmaceutical Industries Ltd. (TEVA), the world’s largest maker of generic drugs, dropped 13 percent on concern new products won’t boost sales.
The Bloomberg Israel-US 25 Index of the largest Israeli companies that trade in the U.S. retreated 0.2 percent to 85.48 yesterday, extending its August drop to 13 percent, the worst monthly performance in data going back to September 2005. SodaStream International Ltd. (SODA), the maker of machines that carbonate water, led the gauge’s decline, falling 50 percent after its profit forecast trailed estimates. Teva Pharmaceutical Industries Ltd. (TEVA), the world’s largest maker of generic drugs, dropped 13 percent on concern new products won’t boost sales.
