IDF pullback lifted Tel Aviv stocks 2.5% Sunday

Tel Aviv stocks closed up 2.5% Sunday, thanks to relative security calm in recent days.

The Maof-25 blue chip index closed up 2.5% to 404.7 points, the TA-100 index closed with 2.2% gains to 389.1 points, and technology shares climbed 2.4%. Total turnover was a moderate NIS 240 million.

The gains lasted throughout the session, at one point leading indices climbing 2.7%.

IDB group stocks posted big gains given the Ganden group's advanced talks to acquire control in IDB Holding Corporation at a $1 billion value, 30% above the market price.

IDB Holdings closed up 5.1%, IDB Development Corporation climbed 5.3% on the session's biggest volume, NIS 28.6 million. Discount Investments closed with 2.2% gains, and Clal Industries rose by 2.6%.

Agrochemicals firm Makhteshim Agan closed up 1.3% on NIS 12.4 million volume, after investment bank Gmul Sahar reiterated its Buy rating, setting a NIS 11.3 price target, 36% above the market.

Drug giant Teva Pharmaceuticals (Nasdaq:TEVA) closed unchanged, attracting big turnover, NIS 20.9 million. TheMarker reported on April 18 that Teva sold the Hungarian vaccine manufacturing facilities of its Hungarian affiliate Human Serum and Medicine Manufacturing to British drug firm GlaxoSmithKline. The deal is worth several million dollars.

Cellular provider Partner Communications (Nasdaq, TASE:PTNR, LSE:PCCD) jumped 5.9%.

Retail food-industry solutions firm Retalix (Nasdaq:RTLX) rose by 2.4%, advanced defense systems maker Elbit Systems (Nasdaq:ESLT) closed up 0.6%.

Bank Hapoalim closed up 2.3%, Bank Leumi climbed 1.4%.

The Israel Corporation closed up 2%.

Phone company Bezeq closed with 3% gains.