Unmoved by the sharp drops on Wall Street Tuesday, Tel Aviv stocks are starting the Wednesday session with mild gains. Turnover however is low at NIS 10 million as investors wait on the fence for the Knesset to vote on the government's economic package.
The Maof-25 index is up 0.5% and the Tel Aviv-100 index is rising by 0.4%, with tech stocks edging up by 0.3%.
Teva Pharmaceuticals (Nasdaq:TEVA), the weightiest stock on the exchange, is dipping by 0.4% on the highest turnover so far, NIS 2.5 million. Investors may be taking profit after steep gains Teva posted on FDA approvals and a Strong Buy rating from the UBS Warburg investment bank.
First International Bank FIBI5 shares are in the green on low turnover, after sinking earlier this week on a dreadful first-quarter report. Yesterday however FIBI5 shares ended the session 3% up.