Tel Aviv stocks have gained momentum as the Sunday session wears on, lifted by the backwind from Wall Street.

In the morning the stock market was flat on almost no turnover, due to the summer holidays, mostly. Investors were ignoring both Wall Street and the consumer price index data reported last week, showing that prices rose 0.6% in July roughly as expected.

The Maof-25 index is up 0.8% to 365.5 points, and the Tel Aviv-100 index is up 0.5% to 354 points. The TelTech-15 index is up 0.8%. But the gains are on painfully thin turnover of NIS 40 million.

Teva Pharmaceuticals (Nasdaq:TEVA) is edging down 0.1% after starting on a positive arbitrage spread of 0.3%. The company on Thursday reported victory in the U.S. appeals court, allowing it to market the generic version of the anti-inflammatory drug Nabumetone, to the vexation of GlaxoSmithKline. Fourth-quarter sales of Nabumetone brought Teva $40 million, but meanwhile other drug companies have started making and selling it.

Tadiran Communications is up 1.5% on hefty turnover, relatively speaking, of NIS 1.7 million. It has made no announcement that would explain the surge of interest in its stock. Investors may be moving ahead of its second quarter financial statement, which is expected to show growth.

IDB group stocks are in the green, with IDB Holding Corporation moving up 1,2% and IDB Development Corporation rising 1.8%. Clal Industries is up 1,5% and Discount Investment Corporation is gaining 2%. Ma'ariv reported today that the Mivtachim pension fund is looking at an offer from the Ganden group to join the group controlling IDB Holding Corporation.

Polgat, of the Clal Industries group, is shooting up by 9.9% on turnover of NIS 75,000, after reporting a 15% jump in second-quarter revenues to NIS 194.4 million, and on shifting to a profit of NIS 9.2 million. In the parallel quarter it lost a net NIS 11.2 million.

Agrochemicals maker Makhteshim-Agan Industries is continuing its ride north since publishing its financial statements last Wednesday. It's now up another 0.2%, on top of 5.4% gains last week.

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