Tel Aviv shares are losing ground Monday afternoon after posting morning gains. The Maof-25 index of blue chips is off 0.57% to 453.05 points and the TA-100 index is down 0.75% to 468 points. But strong gains posted by Nice Systems (Nasdaq:NICE) are elbowing up the Tel-Tech index by 0.2%.
Traders say the session is typical for a Monday, as the locals wait for Wall Street trade to begin. Optimistic Nasdaq futures lifted shares this morning, but the trend changed on reports that the Palestinians have rejected the peace proposal of United States President Bill Clinton.
Back to the floor: Nice Systems is skipping 7.5% on exceptional turnover of NIS 21 million. Nice is correcting for its 67% loss suffered in the two weeks since its profit warning for the fourth quarter of 2000. Nice shares have lost 85% since March 2000. Traders note a rumor making the rounds that
(Nasdaq:CMVT) intends to acquire control over Nice Systems. Nice vigorously denies all. Teva Pharmaceuticals (Nasdaq:TEVA) is slightly up on NIS 15.5 million, the session's second biggest turnover. The generic drugs giant opened the day on a negative arbitrage gap of 1.8%. Yesterday Teva shares lost 5.3%.
Bank shares are in the green after losing ground on Sunday. Bank Hapoalim is inching up 0.1% on NIS 9 million turnover and Bank Leumi is climbing 0.55% on a volume of NIS 7 million.
The steel company Packer Plada is off 3.1% on exceptional trade of NIS 4 million. Today is the company's ex-dividends day and the company is distributing dividends totaling NIS 15 million, extrapolating to 9% per share or NIS 14.7 per share.
Shares of the Clal group are mixed after diving on Sunday following the profit warnings for the fourth quarter of 2000 released by both Clal Industries and Investments and by Clal Electronics. Clal Industries is up 2.26% after losing an aggregate of 25% this month alone. But Clal Electronics is shedding 1.24% after diving 7.5% yesterday.
Vehicle locating company Ituran Location & Control is skipping 4.5% on NIS 1 million. Ituran shares lost over 70% of their value in 2000, but have added 40% in the last four days of trade.
Retalix (Nasdaq:RTLX) is rising 2.9% after losing 5% at opening. Retalix won this morning a Buy rating from Bank Hapoalim analyst Moshe Moshkovitz, who set a price target of NIS 65, almost 90% above the stock's price before opening today.