Wednesday losses on Wall Street continue to weigh down Tel Aviv stocks at mid-day Thursday.
The Maof-25 index of blue chips is down 0.6% to 411.2 points, and the TA-100 index is off 0.4% to 394.7 points. Technology shares are off 0.4%.
Options on the Maof-25 index expired this morning. The closing index was 415.4 points, after an 0.4% gain. Total turnover is NIS 600 million, relatively high for expiry days.
Agrochemicals firm Makhteshim Agan Industries is up 1.5% on NIS 22 million turnover, apparently thanks to its successful offering of convertible notes yesterday. The company reported an oversubscription rate of 3.4. The offering closed at NIS 220 per unit, significantly above the price set at the auction.
Israel Chemicals is rising 0.9% on NIS 31 million turnover after announcing that it has acquired British firm Cleveland Potash for $45 million.
Bank Leumi is dropping 1.4% on NIS 51 million volume of trade after today reporting a 67% drop in profit to NIS 105 million. It set aside NIS 533 million for doubtful debts, 160% more than in the parallel. Bank Hapoalim is down 1.5% on the session's biggest turnover, NIS 55 million.
Phone company Bezeq is up 0.2% on big turnover of NIS 54 million. Yesterday Bezeq closed up 1.1% despite weak Q3 results. Net profit decreased to NIS 7.3 million, compared with NIS 84 million for Q2 and a net loss of NIS 811 million in Q3 of 2000. Its present gains are attributed to the weak Q3 report of cable television firm Tevel, which raised doubts about the ability of the cable television companies to compete with Bezeq in the domestic calls market.
E&M Computing is rising 0.5% on minuscule turnover after yesterday closing down 13%. The company reported a drop in Q3 profit to NIS 971,000, and also said it is to cease representing Compaq Computer Corp. (NYSE:CPQ) computers in Israel.
IDB group stocks are down after the group yesterday reported huge losses for Q3. IDB Holding Corporation is off 2.3%, IDB Development Corporation is down 2.4%, Clal Industries is dropping 1.6%, and Discount is off 1.1%.
Dual-listed shares are down. Teva Pharmaceuticals (Nasdaq:TEVA) is dropping 0.7% on NIS 49 million turnover, and Elbit Systems (Nasdaq:ESLT) is off 1.2%. Koor Industries (NYSE:KOR) is down 2.1%.