Tel Aviv stocks have reversed to a negative bias at mid-day.
Stocks lost opening mild gains as prices began to slide in European markets. The Maof-25 is down 0.5%, while the TA-100 is off 0.3%. Tech stocks are losing 0.4%. Total volume of trade is paper-thin at NIS 83 million.
Teva Pharmaceuticals (Nasdaq:TEVA) is slipping 0.2% on the market's third-highest volume of NIS 5.6 million.
Bank shares are mixed. Bank Hapoalim is losing 0.4%, Mizrahi Bank and Israel Discount Bank are down 0.2%. Bank Leumi is inching up 0.1%.
Bezeq is reversing its northbound trek and is sliding 1.4% on an NIS 8.8 million turnover after Ma'ariv today reported that Eurocom and Polar Investments (formerly known as Poalim Investments) are negotiating to acquire control in the national phone company.
Koor Industries (Nasdaq:KOR) is climbing 1.6% despite news that it may have to take an additional charge on its investment in ECI, after selling a 12.5% stake in the telecoms equipment maker to the Isal-Dovrat-Ofer group.The positive trend for IDB is continuing, following encouraging research from HSBC published yesterday.
The Ha'aretz report from this morning on the restructuring of the Clal Industries and Discount Investment companies into smaller groups, based on their sectors, is affecting IDB Development, up 1.6%.
Discount Investment Corporation is up 1.1% after receiving an Accumulate rating from Nessuah Zannex, which set its price target at NIS 147, 8% higher than its price market.
Osem is losing 0.1% after Bank Hapoalim downgraded it from Buy to Hold, pricing it at NIS 36, 3% above its market price.
Dual-listed shares are mixed with a downward bias. Elbit Systems (Nasdaq:ESLT) is shedding 0.3%, Nice Systems is losing 1.8% and Retalix is down 1.1%.