Israeli shares began the Tuesday session mixed with a negative bias on slim turnover. Stocks corrected upwards 10% in April, but trading volumes were low throughout the month. May has not started differently: the total turnover of trade is a thin NIS 20 million.
The Maof-25 index is beginning the day with a 0.5% dip to 430.1 points and the TA-100 index is losing 0.13% to 413.4 points.
Koor Industries (Nasdaq:KOR) is hopping by 3.6% after gaining 9% yesterday on lively action. Yesterday TheMarker.com revealed that Koor CEO Jonathan Kolber is consolidating a plan to split up the conglomerate and cease its activities as a holding company in order to expose hidden value for shareholders.
Teva Pharmaceuticals (Nasdaq:TEVA) is the liveliest stock on the floor this dull morning. It's rising 0.6% on turnover of NIS 3 million, after starting on a negative arbitrage gap with Nasdaq of 0.3%.
Formula Systems (Nasdaq:FORTY) is climbing by 5.2% on a volume of NIS 1 million. Investors apparently liked the press reports yesterday that Israeli businessman Yossi Maiman is bidding to buy the controlling interest in the company.
The banking sector is down this morning. Hapoalim is falling by 0.7% and Leumi is down 1%. Bank Discount is off by 0.9%.