Relative calm in region lifting Tel Aviv stocks 1.4% at Sunday opening

IDB stocks center of attention as Ganden moves to acquire control

Author:: TheMarker.com Staff
Publish date:: Apr 21, 2002 4:24 AM EDT

Tel Aviv stocks are up 1.4% at the opening of Sunday's session, thanks to the relative security calm in recent days.

The Maof-25 blue chip index is rising 1.4% to 400.6 points, the TA-100 index is climbing 1.2% to 385.5 points, and technology shares are up 1.3%. Total turnover is a minuscule NIS 6 million.

IDB group stocks are attracting strong interest 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 is up 3.9%, IDB Development Corporation is rising 2.3%, Discount Investments is up 1.7%, Clal Industries is rising 1.4%.

Drug giant Teva Pharmaceuticals (Nasdaq:TEVA) is edging up 0.1% on the session's biggest turnover, NIS 1.5 million.

Bank Hapoalim is up 1.4%, Bank Leumi is rising 1.2%.

Phone company Bezeq is up 1.1%.