Skip to main content

Tel Aviv stocks are trading with a positive bias at Thursday mid-day, slightly down from opening gains. The Maof-25 blue chip index, the TA-100 index, and the Tel-Tech technology index are each up 0.2%. Total turnover is relatively high at NIS 505 million.

Options on the Maof-25 index for February expired, the index closed 0.4% up to 417.3 points. Turnover at expiry was moderate at NIS 390 million.

Teva Pharmaceuticals (Nasdaq:TEVA) is down 0.4% on the session's biggest volume, NIS 56.1 million, after opening with 1.2% negative arbitrage spread. Bank Hapoalim reiterated a Buy rating, setting $78 as price target, 30% higher than the share price on Nasdaq. The bank predicts that the the series of products recently approved by the U.S. Food & Drug Administration will contibute $150 million for sales in 2002.

Lipman Electronic Engineering is up 4.3% on NIS 1.7 million volume. The company posted NIS 265.8 million revenue for 2001, 7% up from 2000, and NIS 50.5 million profit, 70% more than in 2000.

Scroll to Continue

TheStreet Recommends

Ma'ariv is trading unchanged. The company restated Q3 financial results, writing down NIS 3.8 million on holdings in Matav Cable Systems (Nasdaq:MATV).

Dual-listed shares are up. Elbit Systems (Nasdaq:ESLT) is rising 0.8%, Partner Communications (Nasdaq, TASE:PTNR, LSE:PCCD) is up 1.3%, Koor Systems (NYSE:KOR) is rising 1.4% after sharp drops of late.

IDB group stocks are trading mixed. IDB Holding Corporation is down 1.4%, IDB Development Corporation is up 1%, Discount Investments is down 0.9%, Elron Electronic Industries (Nasdaq:ELRN) is down 3%.