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  • elbit May 14, 2010 2:57 PM Flag

    Reindexing Reminder...less than 2 weeks

    An article in the May 13th WSJ probably best explains why TEVA has been under pressure lately. The article is titled "Israeli Firms Gird for Their Emergence".

    MSCI, an influential indexing firm, is transferring Israel on May 26th from an "emerging" economy to a "developed" economy.

    This means that funds investing in "emerging" markets are now unloading their Israeli investments as May 26th draws closer. This affects mainly the large cap Israeli stocks, like TEVA. Starting May 26th Israel joins the "developed" world and a new group of funds will begin acquiring stocks such as TEVA, BEZEQ. 11% of the 3.3 billion dollars goes to smaller enterprises. Can't imagine GIVN being overlooked!

    Read the WSJ article and you'll get the message. Wait another week perhaps for all the divestiture to be done?

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