Tel Aviv stocks are dropping 1.5% at Tuesday opening. The Maof-25 blue chip index is off 1.5% to 418.7 points and the TA-100 index is down 1.0% to 405.3 points. Technology shares are off 0.4%. Total turnover is slim at NIS 13 million.
The negative mood is attributed to negative economic data published on Monday. In Q4 gross domestic product shrank 7.2%, and unemployment worsened to 10.2%, up from 9.6% in Q3.
The continuing fighting in the region isn't providing any cause for cheer either.
Teva Pharmaceuticals is rising 0.6% on the session's biggest turnover NIS 2 million, after opening with positive arbitrage spread.
IDB group stocks are once again down, following the cancellation of the Kardan-IDB deal for the control in IDB. IDB Holding Corporation is off 1.6%, IDB Development Corporation is off 1.8%, Discount Investments is dropping 3.8%, and Clal Industries is off 2.4%.