Tel Aviv stocks are edging up at Monday opening despite the bloody days of terrorism, in which some 30 people were killed and hundreds wounded in attacks througout Israel.
Both the Maof-25 and TA-100 indices are rising 0.3%. Technology shares are up 0.6%. Total turnover is paper-thin at NIS 7 million.
Stocks showed some resilience in the face of the serial terror attacks that rocked Jerusalem and Haifa on Saturday and Sunday. Investors displayed no panic whatsoever, say market sources.
The Maof index is at a critical technical level, sources say. Falling below 404.5 points would indicate the continuation of the negative trend. Conversely, passing the 408-point level would indicate an upward trend.
Koor Industries (NYSE:KOR) is up 1.1%. Investors apparently liked hearing that the Ofer and Dovrat families are to become strategic investors in Koor affiliate ECI Telecom (Nasdaq:ECIL).
Electronics Line is rising 0.2% after announcing that the controlling shareholder, the Krubiner family, is selling 15% of the Israeli company to Texan firm Argyle Global Opportunities for NIS 67 million. The deal values Electronics Line at NIS 448 million, 7% below the market.
Teva Pharmaceuticals (Nasdaq:TEVA) is rising 0.4%, a tiny correction in view of its 14.5% slide since January.
Bank Hapoalim is up 0.2%, Bank Leumi is rising 0.5%, Mizrahi Bank is up 0.4%, Bank Discount is gaining 0.7%.
The First International Bank of Israel is unchanged. Investment house Gmul Sahar rated it a Hold and set a price target of NIS 25.2, 10% higher than the market.