Tel Aviv stocks closed dull Monday session up 0.6%

Tel Aviv stocks closed up 0.6% on Monday after a dull session. The Maof-25 blue chip index climbed 0.6% to 425.3 points, and the TA-100 index gained 0.5% to 409.5 points. The Tel-Tech technology index closed up 0.4%. Total turnover was moderate at NIS 257 million.

The dull session was attributed to the fact that U.S. markets were closed today for President's Day. In addition, at least during the session, there were no security events, which contributed to the calm atmosphere.

Teva Phamaceuticals (Nasdaq:TEVA) closed up 1.5% on NIS 22.6 million. Teva lost over 3% in the last two trading days despite excellent Q4 results.

IDB group stocks closed mixed after the collapse of the deal in which Kardan was to acquire a stake in control of the group. IDB Holding Corporation dropped 1.3%, IDB Development Corporation closed off 2.1%, while Discount Investments gained 1.4%. Kardan closed with 0.4% gains on low turnover.

Bank Discount closed up 1%. Yesterday, Discount announced the settlement of the claim filed by C.P. Holdings, controlled by Sir Bernard Schreier. Sir Bernard is to receive an option to acquire 50% of Mercantile Discount Bank for some NIS 345 million.

Israel Chemicals gained 1.7% on NIS 7.7 million volume. Mizrahi Bank today rated Israel Chemicals a long-term buy, setting a price target of NIS 6, 20% above market.

Industrial Building Corporation closed with 1.6% gains. The company is to complete a NIS 576 million bond offering this week. Yesterday TheMarker reported that the company has a paper loss of NIS 110 million on investments in Bank Hapoalim and IDB Holding.

Elbit Systems (Nasdaq:ESLT) closed up 1.5%, Retalix (Nasdaq:RTLX) dropped 0.5%. Partner Communications (Nasdaq, TASE:PTNR, LSE:PCCD) closed up 1.7%.

Bank Leumi gained 0.6%, and Bank Hapoalim climbed 0.5%.

Phone company Bezeq climbed 0.2% on NIS 23 million volume.

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