CURRENCIES

TEL AVIV The benchmark TA-25 index declined 1.3 percent to 1,065.92 at the 4:30 p.m. close in Tel Aviv on Monday. The gauge has declined 1.8% this year. Investors traded about NIS 959 million of shares and convertible securities, according to bourse data.

Compugen, a developer of computational genomic products, advanced 4.1% after it said it would form a company with a division of Merck KGaA to predict toxicity of medicines.

E.T. View Medical, a manufacturer of medical airway tubes, surged 7% after it said it had received European Conformity clearance for its VivaSight disposable devices.

Israel Opportunity Energy Resources, an oil and gas exploration company, rose 5.5% after it was started with a buy rating at Clal Finance Batucha Brokerage and a price estimate of NIS 0.38.

Teva Pharmaceutical Industries declined 2.5%. Its shares soared 12% on Sunday in Tel Aviv after a US federal district judge ruled that competitors’ drug applications for Teva’s Copaxone-branded multiple sclerosis medicine infringe its patent. WALL STREET Stocks tumbled, joining a global slump, on concern that a European Union summit will fail to tame a crisis that puts the Standard & Poor’s 500 Index’s companies on pace for the first earnings decline since 2009. EUROPE UK stocks retreated for a third day as investors awaited a summit of EU leaders later this week in Brussels.

The FTSE 100 dropped 63.04, or 1.1%, to 5,450.65 at the close in London, extending its slide from the beginning of this year to 2.2%. The gauge has declined 5.5% so far this quarter. The broader FTSE All-Share Index lost 1.2%, while Ireland’s ISEQ Index slipped 0.9%.

The shekel headed for the lowest close in almost three years after the Bank of Israel cut interest rates for the first time in five months to support growth.

The shekel declined 0.5% to 3.9206 a dollar, poised for the lowest settlement since August 2009, at 5:44 p.m. in Tel Aviv. The central bank reduced its key