J'lem attack drags TASE down midday Sunday - TheStreet

J'lem attack drags TASE down midday Sunday

The Maof is losing 1.6%, Teva is slipping in spite of FDA approval for Metmorfin
Author:
Publish date:

The mild 1% drops posted this morning by leading TASE indices have intensified following the terror attack in Jerusalem's Jaffa Road.

The Maof-25 is now dropping 1.6%, The TA-100 is slipping 1.27% and the Tel Tech is down a milder 0.18% on low NIS 70 million turnover.

Teva Pharmaceuticals (Nasdaq:TEVA) is slipping 0.7% on the highest turnover on the floor of NIS 8 million, due to a negative 0.9% opening arbitrage gap. Teva Thursday reported final FDA approval for its Metformin 500 and 850 mg tablets, the generic version of Bristol Myers type 2 diabetes treatment drug Glucophage. The market value of both size tablets is estimated at $1.1 billion

Partner Communications (Nasdaq:PTNR) is down 2.1% after opening with a negative 0.5% arbitrage gap this morning, and a Hold rating from Gmul Sahar analyst David Yogev who says investing in the share is risky. He sets its target price at NIS 27.6, 3% lower than its market price.

Gmul is unchanged, after today the company reported it converted a loan to real estate firm Nitsba into 7.5% of its shares. The move will lead to a NIS 27 million amortization for Gmul, whose profit in the first nine months of 2001 came to NIS 47.8 million.

Koor Industries (NYSE:KOR) is now down 2.6% on NIS 1.2 million turnover after having Thursday risen 4.1% on unusual NIS 20 million turnover. Market estimates are foreign investors have gathered the shares together lately, after they opened with a negative 3.7% arbitrage gap.

Elron (Nasdaq:ELRN) is slipping 0.8% in spite of a Buy rating from Ilanot Batucha analysts this morning. Analysts Ran Israeli estimates Elron is traded at a 23% discount and that the merger between the company and Elbit (Nasdaq:ELBT) will help investors value the company more accurately.