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TASE opens down 0.5% Tuesday under weight of five terror victims

Makhteshim Agan down 0.9% on $22 million Argentine write-offs

A spate of terror attacks is depressing Tel Aviv stocks Tuesday, and the market opened down 0.5%. Wall Street's Monday gains are not providing cause for cheer against a backdrop of several attacks this morning in which five people were killed and scores wounded in three separate attacks in Tel Aviv, Jerusalem, and Afula.

The Maof-25 blue chip index is down 0.5% to 422.5 points, and the TA-100 index is off 0.5% to 400 points. But technology shares are up 0.5%. Total turnover is minuscule at NIS 8 million.

IDB Holding Corporation is down 0.9%, IDB Development Corporation is down 1%, Discount Investments is off 1.2%, while Clal Industries is trading unchanged.

Agrochemicals firm Makhteshim Agan is down 0.9%. Yesterday the company said that the financial reports for the fourth quarter of 2001 are to include $22 million write-offs due to the deteriorated value of the debt of Argentine customers following the devaluation of the Argentine currency. The company had indicated as much in the past, but hadn't said when the write-off would be recorded.

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