Nasdaq, Europe lifting Tel Aviv stocks 0.8% Thursday afternoon

Tel Aviv stocks are trading up 0.8% Thursday afternoon, mildly up from their opening. The positive mood is attributed to Nasdaq gains on Tuesday and positive Nasdaq futures, and to European gains. The capital market estimates the gains are a technical correction.

The Maof-25 blue chip index and the TA-100 are each up 0.8%. Technology shares are rising 0.9%. Total turnover is low at NIS 122 million.

Teva Phamaceuticals (Nasdaq:TEVA) is off 0.75% on NIS 32 million turnover after excellent Q4 results. Teva posted $567 million sales for Q4, 9% up from the parallel quarter in 2000. Profit excluding one-time expenses rose to $89 million, 54% more than in the parallel quarter. Net profit including one-time charges came to $80 million, 59 cents per share.

Phone company Bezeq is rising 2.4% on NIS 11 million volume. Yesterday, bidders filed their proposals for control in the state-owned company. The following companies announced their bidding: Africa Israel with Shrem Fudim Kelner's Polar Investments, Eurocom, the Israel Corporation, a group of investors represented by Yitzhak Kaul and Daniel Rosenne, Hong Kong based Pacific Century Cyber Works (PCCW) and American investment fund Apax Partners. Bank Hapoalim is up 1.5% on NIS 10 million turnover, Bank Leumi is down 0.8%. Bank Discount is rising 0.6% on NIS 2.2 million turnover. The bank has been trading up in the wake of reports it is to float its New York subsidiary on Nasdaq.

Koor Industries (Nasdaq:KOR) is rising 1% after subsidiary ECI Telecom (Nasdaq:ECIL) yesterday rose 9%.

Discount Investments is up 1.3%. The gains are related to Gilat Satellite Networks (Nasdaq:GILTF) yesterday rising 11% on Nasdaq. Gilat is in talks with the Indian government ahead of signing a large contract.

Kardan is rising 1.4% after rising 5.6% earlier. The company had a successful bond issue of NIS 100 million to 60 institutional investors.

Tadiran Communications is off 0.4% after earlier 0.4% gains, relating to reports that it is poised to win a $100 million contract with the Indian government.

Electronics firm Lipman is up 2.5% on NIS 3 million volume of trade, completing 9% gains since January.

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