TEL AVIV (Aug. 20)
The Tel Aviv Stock Exchange largely, but not completely recovered Monday from a major drubbing the day before.
Prices of shares fell Sunday by 11.06 percent, in what was described as the worst one-day decline ever experienced by the stock exchange.
In lively trading Monday, investors took advantage of low opening prices, thereby covering a good deal of Sunday’s losses.
Prices had fallen sharply at the onset of the Persian Gulf crisis early this month, but rallied later, as pension and mutual fund managers too advantage of bargains to build up their positions.
Those gains, registered at the end of last week, were wiped out Sunday.