TASE indices closed in the red Thursday - TheStreet

Leading TASE indices closed the Thursday session in the red after a three-day selling trend and negative Nasdaq and European trade took the Maof-25 down 1.5%. Turnover was more conservative than of late at NIS 280 million, negatively affected by investors' growing fear of more terror after yesterday's attack on an IDF outpost.

The Maof-25 and the TA-100 ended up losing 1.2%, the TA-75 shed 1.7%, and the Tel Tech dropped a heftier 2%.

Teva Pharmaceuticals (Nasdaq:TEVA) dipped 0.7% on NIS 42 million turnover, after losing 2.2% on an unusual NIS 92 million turnover last night. Estimates were published last night the company was considering the acquisition of the generic division of Ivax, and the joint acquisition of its proprietary drug division with Merck.

Other dual-listed shares closed south as well. Partner Communications (Nasdaq:PTNR) lost 3.1%, Retalix (Nasdaq:RTLX) shed 3% and Tower Semiconductor (Nasdaq:TESM) slid 3.3%. Dual-listed shares that bucked the trend were Elbit Systems (Nasdaq:ESLT), up 0.2% and Formula Systems (Nasdaq:FORTY) that gained 0.4%. Matav Cable (Nasdaq:MATV) closed down 1.1% and Bezeq dipped 0.5% on NIS 16 million turnover, after Matav confirmed the Ma'ariv morning reports the two companies had asked for the Antitrust Commissioner's opinion on a Matav-Yes merger. The company believes chances of the merger actually happening are slim.

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.

Big bank shares continued their decline. Bank Hapoalim dropped 1.7% on NIS 36 million turnover and Bank Leumi lost 2.7% on NIS 31 million turnover. 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 each lost 2.1%, apparently on the 4.3% drops posted last night by the subsidiary ECI Telecom (Nasdaq:ECIL).

Gas and oil partnerships Avner and Isramco both rose today. Avner gained 1.6%, and Isramco continued its recovery from its recent decision to stop drilling at its Nordan 1 site. The share climbed 1.9% on $2 million turnover.

Telsys lost 2.6% on an unusual NIS 4 million turnover. The decline was the result of today being the x day for the distribution of an NIS 20 million dividend by the company.