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Leading TASE indices are reversing their morning northbound climb and slipping 0.6% on sharp drops in the European markets and anticipation of a Nasdaq decline.

The Maof-25 is losing 0.66% while the TA-100 is slipping 0.56% and the Tel Tech is sliding 1.6% on slim NIS 79 million turnover.

Teva Pharmaceuticals (Nasdaq:TEVA) is up 0.04% on NIS 13.3 million turnover. The company yesterday made a bid for German drug company Bayer's generic production and marketing activity in France for about 200 million euro.

Alvarion (Nasdaq:ALVR) is plunging 9% on NIS 1 million turnover after posting its Q4 results, where it reported a loss of $16.6 million on $25 million revenues.

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Bank Hapoalim is down 1% and Bank Leumi is shedding 0.5%, while Israel Discount Bank is losing 0.9% and First International Bank is dropping 2.2% due to negative recommendations yesterday from IBI analysts who said the banks' low due diligence, poor credit quality and provisions for doubtful debt expected in Q4 2001 may adversely affect performance.

Nice Systems (Nasdaq:NICE) is climbing 1.6% on positive Q4 and annual results reported today.

Partner Communications (Nasdaq:PTNR) is gaining 0.5% after a positive 1.15% opening gap.

IDB group shares are sliding. IDB Development is losing 1.4%, IDB Holdings is shedding 2.7% and Discount Investment Corporation is down 1.7%.

Supersol is rising 1.2% on NIS 225,000 turnover. The company yesterday announced it would post NIS 27 million in capital gains after selling its stake in Avnat, a Petah Tikvah based real estate firm, to Azorim Properties and Israel Theatres for NIS 46.8 million.