Tel Aviv stocks are trading with a positive bias at Thursday mid-day, slightly down from opening gains. The Maof-25 blue chip index, the TA-100 index, and the Tel-Tech technology index are each up 0.2%. Total turnover is relatively high at NIS 505 million.
Options on the Maof-25 index for February expired, the index closed 0.4% up to 417.3 points. Turnover at expiry was moderate at NIS 390 million.
Teva Pharmaceuticals (Nasdaq:TEVA) is down 0.4% on the session's biggest volume, NIS 56.1 million, after opening with 1.2% negative arbitrage spread. Bank Hapoalim reiterated a Buy rating, setting $78 as price target, 30% higher than the share price on Nasdaq. The bank predicts that the the series of products recently approved by the U.S. Food & Drug Administration will contibute $150 million for sales in 2002.
Lipman Electronic Engineering is up 4.3% on NIS 1.7 million volume. The company posted NIS 265.8 million revenue for 2001, 7% up from 2000, and NIS 50.5 million profit, 70% more than in 2000.
Ma'ariv is trading unchanged. The company restated Q3 financial results, writing down NIS 3.8 million on holdings in Matav Cable Systems (Nasdaq:MATV).
Dual-listed shares are up. Elbit Systems (Nasdaq:ESLT) is rising 0.8%, Partner Communications (Nasdaq, TASE:PTNR, LSE:PCCD) is up 1.3%, Koor Systems (NYSE:KOR) is rising 1.4% after sharp drops of late.
IDB group stocks are trading mixed. IDB Holding Corporation is down 1.4%, IDB Development Corporation is up 1%, Discount Investments is down 0.9%, Elron Electronic Industries (Nasdaq:ELRN) is down 3%.