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Tel Aviv stocks are cutting opening losses at mid-day Wednesday, but are still in the red. Market players blame drops on European markets and pessimistic Nasdaq futures.

The Maof-25 and TA-100 indices are both off 0.2%. Tech stocks are dropping 1.5%. Total turnover is low at NIS 73 million.

Market players expect activity in Maof-listed stocks to intensify ahead of closing, thanks to speculators. Options in the index expire this Thursday. Speculators will be doing their utmost until then to sway the indices in their favor.

Phone company Bezeq is up 0.2% after yesterday reporting NIS 7.36 million net profit for Q3, compared with NIS 84 million net profit for Q2, and a net loss of NIS 811 million for Q3 of 2000.

Mizrahi Bank is climbing 0.9% after yesterday reporting NIS 47 million profit for Q3, 51% less than for the parallel, when it netted NIS 95 million. Profit for the first nine months of 2001 decreased 28% to NIS 200 million.

Midgal Insurance is up 0.8% after reporting a net profit of NIS 75.6 million for Q3, 7% less than in the parallel. Earnings from insurance business increased 22% against the parallel to NIS 149.5 million.

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Discount Investments is down 1.8% after reporting a loss of NIS 417 million for Q3.

Clal Investments is down 0.3%. Other members of the IDB group are expected to slide later on today.

Bank Discount is slipping 1% after today reporting a loss of NIS 77 million for Q3, as expected.

The Israel Corporation is rising 0.8% after reporting a NIS 30 million loss for Q3.

Elbit Medical Imaging (Nasdaq:EMITF) is rising 3% after reporting NIS 50 million profit for Q3, compared to a loss of about that for the parallel.

Tadiran Wireless Communication is up 6.2% after reporting NIS 158 million revenue for Q3, 17% more than for the parallel. Operating profit 50% against the parallel to NIS 29.5 million.

Teva Pharmaceuticals (Nasdaq:TEVA) is down 0.2% on the session's biggest turnover, NIS 6.4 million.