Tel Aviv Loses MSCI Europe Index Inclusion Bid: Israel Overnight
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MSCI Inc. decided against including Israel in its Europe Index, a change that the Tel Aviv bourse’s chief executive officer said would have lured as much as $2 billion in foreign capital.
The Bloomberg Israel-US Equity Index of the biggest Israeli companies in the U.S. fell 1.3 percent prior to MSCI’s announcement. Mellanox Technologies Ltd. fell to a seven-week low in New York before the maker of data-transfer technology is removed from Israeli stock benchmarks June 16. Gazit-Globe Ltd. dropped the most in two months after the real-estate company held a share tender at a discount to the previous day’s price.