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Relative calm in fighting lifts Tel Aviv stocks to 1% gains Sunday mid-day

Elbit Systems rising 1.4% after announcing Israel Air Force deal

Tel Aviv stocks are up 1% at Sunday mid-day, after opening with 1.5% gains. The Maof-25 blue chip index is up 1.3% to 421.2 points and the TA-100 index is rising 0.9% to 404.4 points. Technology shares are off 1.2% after slipping 0.4% at opening. Total turnover is very low at NIS 70 million.

The gains, which stand out against the 2.8% drops on Nasdaq on the last two trading days, are attributed to the relative calm in regional violence.

IDB group stocks are posting sharp gains, with IDB Holding Corporation gaining 2.2%, IDB Development Corporation rising 2.6%, Discount Investments gaining 2.8%, and Clal Industries rising 2.4%. Yedioth Ahronoth today reported that real-estate tycoon Larry Silverstein is in preliminary talks with IDB Holdings Chairman and CEO Leon Recanati, for investing in the group.

Elbit Systems is up 1.4% on NIS 2 million turnover after opening with 2.1% gains. The company today announced it has won a Defense Ministry contract to provide radar systems to the Israel Air Force.

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Bezeq phone company continues on its downward trail, and is dropping 0.6% on NIS 4 million volume. Last Tuesday the firm said it expects its 2001 results will be negatively affected by the markedly steeper losses in wireless subsidiary Pele-Phone. Bezeq said Pele-Phone is expected to report one-time write-offs on capital equipment in Q4. Bezeq said this doesn't indicate deteriorated operations. Bezeq has lost 6% since Tuesday.

Food giant Osem is up 2.3%. On Thursday Osem gained 2.2% after announcing a NIS 100 million interim dividend. Gross yield comes to 3.6% per share.