Tel Aviv stocks are trading up 0.3%, similar to opening gains.
The Maof-25 blue chip index is up 0.3% to 434.9 points, and the TA-100 index is rising 0.6% to 418.0 points. Technology shares are up 1.7%. Total turnover is now at NIS 75 million.
Teva Pharmaceuticals (Nasdaq:TEVA) is up 0.2% on large turnover of NIS 20 million, after opening with 1.8% positive arbitrage spread. Today it was reported that the trials of oral Copaxone (Coral) have failed, and that the results aren't statistically significant. Copaxone is used in the treatment of relapsing-remitting multiple sclerosis, and is administered via injections. Capital market sources estimate that the drug giant will not conduct further trials of the oral version. Teva said it is still studying the results and examining options with its trials partner, Danish drug firm Lundbeck.
Bank Discount is continuing its positive trend and is up 1.9% on NIS 2.1 million volume of trade. TheMarker yesterday reported the bank will issue 30% of the shareholders' equity of its New York branch. It is believed that the offering will be based on about $600 million company value, which is expected to generate the parent company some NIS 180 million.
Tadiran Communications is rising 2.9% on NIS 254,000 turnover. Globes yesterday reported that the company is poised to win a huge tender in India worth $100 million to $150 million.
Delta Galil Industries (Nasdaq:DELT) is up 2.9%, Formula Systems (Nasdaq:FORTY) is rising 1.6%, Metalink (Nasdaq:MTLK) is jumping 10% after opening with a huge positive arbitrage spread of 13.6%.