Tel Aviv stocks are losing 1.4% at the opening of the Tuesday session after Nasdaq's 0.4% loss on Monday. Total turnover is a tiny NIS 10 million.
The Maof-25 index of blue chips is down 1.4% to 384.2 points and the TA-100 index is off 1.25 to 370.6 points.
Bank Leumi is down 1.4% and Bank Hapoalim is off 1.5%. Mizrahi Bank is down 2%.
Bank Discount is unchanged even though Supervisor of Banks Yitzhak Tal yesterday agreed to exempt it from the directive to all banks, to increase provision for doubtful debt.
Kardan Investments is up 1.5% on low turnover, after gaining 4.9% yesterday on high turnover of NIS 8.9 million. The company yesterday announced a memorandum of understanding with LFG Holdings, a private company owned by the Lowy family of Australia. Kardan is selling LFG 20% of its equity at NIS 14.2 a share, 10% above the market.
Agrochemicals company Makhteshim Agan is dropping 2% on narrow NIS 517,000 volume of trade. The dip could be due to Argentina announcing that it cannot repay its debts to government bond-holders. Argentina is one of Makhteshim's key markets.
Elite is rising 0.5% on thin turnover. Ha'aretz today wrote that its three-year strategic plan includes NIS 500 million investments in acquisitions and in its existing endeavors. Ha'aretz also speculated that Elite may be planning to enter new areas, such as canned food and jams.