Losses in Europe and negative Nasdaq futures pushed Tel Aviv stocks down 0.5% on Monday. The Maof-25 index of blue chips and TA-100 each closed down 0.5%, while technology shares dropped 1.4%. Total turnover was low at NIS 186 million.
The session opened with a negative bias, and stocks lost further ground under the impact of losses in Europe and negative Nasdaq futures. At one point in the session stocks were down 1%, but moderated ahead of closing.
Yesterday, stocks closed with gains.
Partner Communications (Nasdaq, TASE:PTNR, LSE:PCCD) climbed 1.2% after being rated a Buy by investment house Nessuah Zannex, which set a price target of NIS 36.5, 41% above the market.
Nice Systems (Nasdaq:NICE) climbed 1% after announcing that the Israeli Ports and Railways Authority is to install NiceFix systems in two ports in order to improve efficiency, safety and security in monitoring marine traffic.
Drug company Agis Industries rose by 1.8% on NIS 9.5 million volume. Chairman and President Moshe (Mori) Arkin has acquired his sister's shares in the family-owned holdings company Arkin, which owns 42% of Agis. The acquired stake comes to NIS 135 million. It is estimated that the company could soon distribute dividends that would help Moshe Arkin finance the acquisition.
Team Computers & Systems jumped 6.9%. Ha'aretz today reported that Team affiliate TTI Telecom has won a Hutchison tender for establishing control rooms for 3G cellular networks. The tender is estimated at $60 million.
Bank Hapoalim dropped 0.3%, Bank Leumi slipped 0.6%. Bank Discount closed off 0.6%. Investments bank DS Leader today estimated that the Koor (NYSE:KOR) conglomerate will generate Bank Hapoalim NIS 30 million to NIS 40 million losses for Q4, and that Bank Discount will post a loss for Q4.