Leading indices in Tel Aviv gained 0.7% on Wednesday on moderate turnover of NIS 282 million.

Nasdaq's Tuesday gains lifted Israeli stocks at opening. Investors were not moved by the mild drops in European markets. They took cheer from Prime Minister Ariel Sharon's suggestion that Israel and the Palestinians agree to an immediate cease-fire and a return to negotiations.

Blue chips were adding 1.5% to 435.7 points at 16:00 but lost much of the gain after the Nasdaq opened with losses.

The Maof-25 index climbed 0.81% to 439.22 points, and the TA-100 index rose 0.67% to 426.4 points. The Tel-Tech index rose by 1.37%.

Koor Industries (Nasdaq:KOR) closed with a steep 4.6% drop after

ECI Telecom

(Nasdaq:ECIL) plunged 10% as Wall Street opened for trade today.

This morning ECI published its first-quarter results, showing a record operating loss of $242.6 million and a record net loss of $256.4 million.

Bank Leumi inched by 0.2% on the session's highest turnover as shares held by workers were released from lock-up.

Migdal Insurance gained 1.8% on NIS 4 million volume of trade. This morning the company reported a 30% slide in net profit, to NIS 76 million, for the first quarter. In addition, the company announced that it is to distribute dividends of NIS 50 million, which explains today's rise.

IDB Development gained 1.3% and IDB Holding rose by 0.3%. Discount Investments climbed 1.8% on hefty turnover of NIS 20 million. Clal Electronics closed up 2.2% after losing 1% at the opening. Clal Industries added 2.6%. It also holds a piece of ECI.