Leading indices in Tel Aviv closed up on Sunday, but total turnover was low at NIS 158 million. The cheerful mood was attributed to the Nasdaq's gains on Friday.
The Maof-25 index of blue chips closed up 3.77% to 407.22 points. The TA-100 index rose by 3.34% to 396.90 points, and the Tel-Tech technology index finished up 2.87%.
The leading banks drew lively action and posted unusual gains after suffering losses last week. Bank Hapoalim added 3.1% after it released its results for 2000 on Thursday, showing an annual profit of NIS 1.6 billion. Bank Leumi rose by 4% on a turnover of NIS 9 million, and Bank Discount, which had taken a beating of late, jumped 6.2%.
After a long slump, investors returned to the IDB group and sent its shares up an average of 7%. IDB Holdings leaped 8.1%, Clal Industries rose 7.7%, Clal Electronics gained 6.3%, Discount Investments closed up 6.7%, and IDB Development increased by 7.1%.
The Israel Corporation lost 2.3% on a turnover of NIS 2 million. The company reverted to a loss of NIS 18 million in its fourth quarter of 2000, and posted a sharp drop in annual earnings, which came to NIS 129.2 million, compared with NIS 465.6 million profit in 1999.
The Israel Chemical Corporation's shares dropped 4.1% after the firm announced on Sunday its weak results for 2000. Its fourth quarter earnings shrunk by 70% to NIS 16 million, and its annual earnings fell by 20% to NIS 100.4 million, compared to NIS 125 million in 1999.