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Article: TASE rise led by Koor

Article from:
Jerusalem Post
Article date:
August 26, 1998
Author:
Copyright

Bloomberg
Jerusalem Post
08-26-1998
Tel Aviv

Stocks rose, after falling for four straight days, led by Koor Industries on expectations it will post a high second-quarter profits after the sale of stakes in some of its units.

Koor shares rose 2.05 percent to NIS 398, helping to push the Maof Index of the 25 largest companies up 1.13 points, or 0.36%, to 319.31.

Analysts said Koor has been successful in shedding some unprofitable subsidiaries and reducing its stake in other units to focus on managing its investments rather than the businesses themselves. This will probably boost its second-quarter profit by 45%, they said. Koor has the sixth-largest market capitalization on the index, ...

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