Tel Aviv stocks declining 1.8% Sunday morning on Nasdaq, terror

Tel Aviv stocks are down 1.8% Sunday morning after sharp drops on Wall Street Friday, when the Nasdaq dropped 2.9% and the Dow Jones closed off 1.2%.

The mood is also impacted by the terrorist attack Saturday on the Hebron-area settlement Adora that cost the lives of four people including a five-year-old girl.

Another mood damper is the NIS 250 million embezzlement at Trade Bank revealed on Friday.

The Maof-25 blue chip index is off 1.8% to 376.9 points, the TA-100 index is down 1.5% to 365.4 points, and technology shares are dropping 1.7%. Total turnover is a minuscule NIS 11 million.

The massive embezzlement of NIS 250 million in Trade Bank is affecting trade in bank stocks. Bank Hapoalim is down 1.8%, Bank Leumi is falling 2.2%.

Agrochemicals firm Makhteshim Agan is down 0.9% despite announcing Friday that it has acquired the German herbicide company Feinchemie for $21 million. The cost of the deal could climb by another $4.5 million depending on the sales volume of the German company in 2002 to 2003. Feinchemie sales in 2001 came to $40 million.

Drug giant Teva Pharmaceuticals (Nasdaq:TEVA) is off 0.6% on the session's biggest turnover, NIS 2.3 million.

IDB group member Discount Investments is dropping 3.9% on NIS 2.1 million.

Phone company Bezeq is down 1.5%.