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TASE closes deep in the red Sunday

Teva and IDB dragged Maof down 2.8%

After slipping 0.5% then rising that much early this session, the Maof-25 closed down a sharp 2.8% following the attack on the IDF base in Beer Sheva in which two people were killed. The TA-100 lost 3% and the Tel Tech slid 2% on NIS 276 million turnover.

Players attributed the slump to the absence of a market entity that could lead the market upwards.

Teva Pharmaceuticals (Nasdaq:TEVA) shed 2.9% on NIS 43 million turnover, having opened with a negative gap. The share is apparently responding negatively to the bid for German drug company Bayer's generic production and marketing activity in France for about ¿200 million.

Discount Investment Corporation dropped 5% on NIS 9 million turnover. Tel Aviv Magistrates Court today gave its verdict in the Iscar reports affair, convicting all the parties indicted of misleading the public by filing false financial reports.

Nice Systems (Nasdaq:NICE) lost day-long climbs on to its positive Q4 and annual results and the resulting positive ratings and finally gave up 0.14% on NIS 5.6 million turnover.

Koor Industries (Nasdaq:KOR) slipped 2%, in spite of the sharp 17% rise posted by ECI Telecom on the Nasdaq Friday.

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Electra Israel lost 3% in spite of a of a Buy rating received today from Bank Hapoalim, which set its target price at NIS 400, 19% higher than its market price. The bank wrote its high yield in the last few years was well grounded, in light of the company's significant growth. The bank also points at the fact Electra has grown consistently in the last ten years, against a background of real estate slowdown and a recession, because of its leadership position in its industry.

Big bank shares closed in the red. Bank Hapoalim lost 3.5%, Bank Leumi shed 1.5%, Israel Discount Bank fell 3% and Mizrahi Bank closed down 2.6%.

Baran lost 2.9% after today announcing Securities Authority intervention in its vote on benefits to company executives. The five top executives hoped to secure million shekel bonuses in the last shareholder meeting, but the authority decided to disqualify their votes due to their personal interests.

Israel Chemicals slid 1.8% on NIS 6.5 million turnover. Leader DS analyst Ori Hershkovitz said PotashCorp 2001 reports reveal that if the competition from Russian manufacturers and China intensifies, the pressure on the prices of phosphate may bear negatively on Israel Chemicals' prices as well.

Makhteshim Agan plunged 4.1% on NIS 4.3 million turnover. The company today reported its purchase of the Oxsol product line from the American company Occidental Chemical for $1 million. Sales of these products are expected to hit $5 million.

Delek Group shares closed down 3% on NIS 1.6 million turnover, following the announcement of subsidiary Delek Energy that it will post its NIS 18.5 million investment in the drilling off the Vietnam shores in its Q4 2001 results.