Sun: Teva acquisition sparks TASE rally: Shares opened the new week in positive territory buoyed...

Jul. 20--The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.87 percent to 1,018.59 points; the Tel Aviv 100 Index rose 1.23 percent to 927.60 points, while the Tel Tech Index climbed 3.56 percent to 218.74 points. Turnover totaled NIS 1.707 billion. Trading got off to a positive start on the TASE today, as investors continued to digest the mega acquisition announced by Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) on Friday. But the market was in a buoyant mood despite the Teva's acquisition of Barr Pharmaceuticals Inc. (NYSE: BRL) for $7.46 billion in cash and shares, with today the second day in a row that the Tel Aviv 25 Index has ended above the 1,000-point level. The deal was well received by the US market, which sent Teva up 4.4 percent on Friday, while Barr soared 10.95... [read full story]