Israel Shares Lead Middle East Lower on Global Growth Concern

Israel’s benchmark stock index fell the most in almost three weeks, leading a decline in Middle East markets, as a drop in U.S. consumer confidence and a slowdown in China spurred concern the global economic recovery is faltering.

Israel’s TA-25 Index decreased 1.8 percent, the most since June 29, to 1,091.03. Teva Pharmaceutical Industries Ltd., the world’s largest maker of generic drugs, slid the most in 16 months after a U.S. court denied its motion to overturn an April 23 jury verdict on the validity of a patent for a heartburn drug. Israel Chemicals Ltd., which extracts minerals from the Dead Sea to make fertilizer, lost 1.7 percent. In North Africa, Egypt’s EGX30 Index lost the most in almost a week, dropping 1.2 percent.