Tel Aviv stocks gained 2.3% on Monday on moderate turnover of NIS 241 million.
The Maof-25% index of blue chips rose 2.3% to 394.5 points and the TA-100 index gained 1.8% to 377.1 points. Technology shares closed up 0.6%.
One-percent opening gains were later lifted by buoyant prices in European markets and optimistic Nasdaq futures.
Koor Industries (NYSE:KOR) starred with a 7% jump on an NIS 11.5 million volume of trade. Koor has risen 16% over two trading days, after Lehman Brothers rated its affiliate ECI Telecom (Nasdaq:ECIL) a Strong Buy. Lehman set a price target of $10, 200% above the market. In addition, Ha¿aretz reported today that Israel Aircraft Industries may take over Koor's defense group, Elisra Electronic Systems.
Israel Chemicals gained 1.5%, and agrochemicals company Makhteshim Agan Industries gained 1.9%. Ma'ariv today reported that a group of local investors is negotiating to acquire half of Koor's holdings in Makhteshim Agan. Bosh, quoth Koor.
Phone company Bezeq closed up 3.5% on hefty turnover of NIS 16.3 million. Ha'aretz reported that certain financial investors may be offering to buy Bezeq shares the banks are holding as collateral for loans made to businessman Gad Zeevi.
Supersol (NYSE:SAE) closed with 2.6% gains after reporting favorable results for the third quarter. It netted NIS 52 million, 34% more than in the parallel period last year. Revenue rose to NIS 1.69 billion, 8% more than in the third quarter of 2000. Supersol also announced a NIS 100 million dividend.
Supersol's parent company Discount Investments rose 5.3%. It's due to receive over NIS 50 million dividends from Supersol.
IDB Holding Corporation closed up 2.1%, IDB Development Corporation gained 3.2%, and Clal Industries rose by 4.3%. Clal Industries owns 14.6% in ECI.
Baran Group closed up 3.6% after TheMarker.com reported that the company is about to sign an agreement with Nokia (NYSE:NOK) for establishing a joint venture in Germany. Baran CEO Meir Dor told TheMarker.com that in coming weeks the company will be closing a deal in the American market worth tens of millions of dollars.
Teva Pharmaceuticals (Nasdaq:TEVA) closed up 0.4 % on the session's biggest turnover, NIS 51.6 million.
Partner Communications (Nasdaq, TASE:PTNR, LSE:PCCD) rose by 4.8%, Matav Cable Systems (Nasdaq:MATV) gained 6.7%, and Retalix (Nasdaq:RTLX) closed up 3.5%. Elbit systems (Nasdaq:ESLT) closed up 2.3% after dipping 2.3% at opening, and Formula Systems (Nasdaq:FORTY) lost 3%. Alvarion (Nasdaq:ALVR) closed off 2.6%.
A happy day for bank investors: Hapoalim rose 0.2%, Leumi closed up 0.3%, Discount gained 0.9%. Mizrahi rose 1.4%, and the First International Bank of Israel closed up 1.8%.