The worldwide selloff in biotech stocks and the lack of performance by generic drug giant Teva (TEVA) has hampered Israeli stocks thus far in 2016. Dig a little deeper into the indexes, however, and it's clear that other parts of the nation's economy are gaining momentum, said Brian Friedman, president of Israel Investment Advisors. 'Biotech is a core part of the Israeli economy and it is clearly having its troubles,' said Friedman. 'But other parts of the economy like retail and finance are doing well and will continue to do well because economic growth stabilized at 2.8 percent which is above the U.S. and European growth rates.'
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