European gains lifting Tel Aviv indices to 1% gains Monday mid-day

Food conglomerate Elite dropping 5% on report that Q3 profit slid to NIS 2 million
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Gains in European markets are boosting Tel Aviv stocks at Monday mid-day, after slim opening gains of 0.5%.

The Maof-25 index of blue chips is rising 1.1% to 408.9 points, and the TA-100 index is up 0.9% to 388.8 points. Technology shares are gaining 1.5%. Total turnover is low at NIS 91 million.

Food manufacturer Elite Industries is down 5.1% after today releasing poor Q3 results. The company posted NIS 2 million profit, compared with NIS 33.3 million in the same period last year. Revenue decreased by 2.2% against the parallel quarter to NIS 509 million.

Agrochemicals firm Makhteshim Agan Industries is off 1% on the session's biggest turnover of NIS 12.4 million as investors continue to frown on its anticipated bonds offering.

Lipman Electronic Engineering is up 3.6% after yesterday reporting strong results for Q3. Net profit for Q3 rose by 82% against the parallel, to NIS 14.9 million. Yesterday, shares closed up 5%.

Mizrahi Bank is up 0.5%. Today Ma'ariv reported that an investor is in preliminary talks to acquire the holdings of the Feinberg family in the bank. Bank Hapoalim is rising 1.5%, Bank Leumi is up 0.9%, and Bank Discount is trading unchanged.

Phone company Bezeq is up 0.6% after opening with 0.9% drops. Communications Minister Reuven Rivlin decided to recommend against annulling Bezeq's status as a monopoly. Also, Bezeq's intention to increase its stake in the YES satellite television company from 30% to 44.9% is expected to engender further losses, including retroactively.

Teva Pharmaceuticals (Nasdaq:TEVA) is up 0.5% on hefty turnover of NIS 12.1 million.

Elbit Systems (Nasdaq:ESLT) is rising 2.4%, Nice Systems (Nasdaq:NICE) is up 2.2%, and Formula Systems (Nasdaq:FORTY) is gaining 2.8%.

IDB group stocks are posting big gains. IDB Holding Corporation is rising 2.1%, IDB Development Corporation is up 0.8%, and Clal Industries is up 2.6%. Discount Investments is gaining 1.9% after earlier losing 0.7%.

Suny Electronic is jumping 8.6%, bringing its gain over 10 days to 45%.

Baran Group is down 3.9% on NIS 3.2 million, and Africa Israel Investments is down 2.8%.