Leading TASE indices are posting moderate declines of about 1% as a selling trend is building up midday Thursday. Turnover is a high NIS 85 million.
The Maof-25 is down 0.92%, the TA-100 is losing a similar 0.98%, and the Tel Tech 15 is shedding a heftier 2.29%.
Dual-listed shares were mixed last night on the dipping market, but most of them are opening with negative arbitrage gaps.
Teva Pharmaceuticals (Nasdaq:TEVA) is down 0.89% on NIS 19 million turnover, after losing 2.2% on an unusual $92 million turnover last night. Estimates were published last night the company was considering the acquisition of the generic division of Ivax, and the co-acquisition of its proprietary drug division with Merck.
Matav Cable (Nasdaq:MATV) is up 2.3%, and Bezeq is unchanged on $3 million turnover, possibly in response to reports this morning the company is in preliminary talks with Yes Satellite TV company on a possible merger or cooperation.
Leader DS analyst Yuval Ben Zeev sees no advantage in the deal, and believes that if it is carried out, Matav may sell its activity to other cable companies and become an investor in Yes. Ben Zeev deems it unlikely the commissioner will approve any version of some such transaction.
Bank shares are still on the decline. Bank Hapoalim is down 1.5% and Bank Leumi is losing 1.9%. Both the shares posted drops of about 0.7% last night, in spite of a positive report from Credit Suisse bank Tuesday, in which the bank raised their rating from Hold to Buy after the Governor slashed the interest rate.
Koor industries (Nasdaq:KOR) and Clal Industries are each losing 2.1%, apparently on the 4.3% drops posted last night by the subsidiary ECI Telecom (Nasdaq:ECIL).
Hebrew language portal Walla is selling, losing 8.8% on NIS 200,000 turnover. Having climbed a total of 75% since the beginning of the month, Walla yesterday lost 5.2% on NIS 1 million turnover.