Tel Aviv stocks are down 1.4% at Wednesday afternoon, cutting morning losses of 2%. The drops are related to the terror attack on Tuesday in which six soldiers were killed at a road block in the territories, and to sharp drops of 3% on Nasdaq on Tuesday.
Leading indices are down to their pre-December 23 levels, when key lending rates were cut by 2%.
The Maof-25 blue chip index is dropping 1.4% to 410.5 points, and the TA-100 index is off 1.5% to 395.7 points. Technology shares are off 2.6%. Total turnover is low at NIS 187 million.
Bezeq is down 1.5% after opening with 2.5% drops. The company issued a profit warning for 2001, and said results will show marked negative effect relating to substantial losses in subsidiary Pele-Phone, where Bezeq owns 50%. Cellular provider Pele-Phone is expected to make big one-time write-downs in Q4 on capital equipment. The results do not indicate deteriorated performance, Bezeq said.
Clal Industries of the IDB group is off 0.7% despite today announcing the sale of its holdings in International Technologies Lasers for $7.3 million. Capital gains are expected to come to NIS 8 million.
Teva Pharmaceuticals (Nasdaq:TEVA) is down 1.6% on NIS 20.8 million volume, after opening with 2% negative arbitrage spread.
Partner Communications (Nasdaq, TASE:PTNR, LSE:PCCD) is dropping 2.5%, after opening with 4.3% negative arbitrage spread. Koor Industries (NYSE:KOR) is down 3.4% on NIS 6.2 million volume.
Nice Systems (Nasdaq:NICE) is down 4.1% after opening with a huge negative arbitrage spread of 5.6%. Formula Systems (Nasdaq:FORTY) is dropping 1.7%, Retalix (Nasdaq:RTLX) is off 1.5%.
Bank Hapoalim is down 0.5%, Bank Leumi is off 0.6%.
IDB group stocks are still on a negative momentum, with IDB Holding Corporation off 2.3%, IDB Development Corporation down 2.1%, Discount Investments off 1%.