Tel Aviv stocks are expected to slide as the trading week begins after the serial attacks on central Jerusalem Saturday night.
Before the attacks, the market had expected a dull trade on low turnover, as has characterized the Tel Aviv Stock Exchange lately. If anything gentle gains were expected after a calm weekend on Wall Street.
IBM Investment House manager Rami Dror predicts that the series of three attacks on the Jerusalem pedestrian mall will depress the mood Sunday morning. But he predicts that the investors will turn more selective as the session wears on, as third-quarter financial statements continue to stream in.
Dror also noted that demand for stocks had picked up after the expiry of options on the Maof-25 index on Thursday. Market sources generally expect the positive trend to be sustained until year-end.
All eyes will be on Koor after the press today reported that the Dovrat investment group and the Ofer Bros are investing in Koor affiliate ECI Telecom (Nasdaq:ECIL).
Another attention-getter will be Scitex Corporation (Nasdaq:SCIX), which last week sold 7 million Creo shares to Canadian investors for $78 million. The sale dilutes Scitex's holding in Creo from 27% to 12.7%.