By Sara Toth Stub
Special to DOW JONES NEWSWIRES
JERUSALEM--Shares of Israeli investment company Koor Industries
Ltd. (KOR.TV) closed down sharply Thursday after Credit Suisse
Group AG (CS), of which Koor owns 2.48%, was urged by the Swiss
National Bank to halt dividends amid the downturn in Europe.
Koor's shares closed down 4.49 shekels, or 10.18%, at ILS40.51,
in a lower Tel Aviv market. Koor has been buying and selling shares
in Credit Suisse since 2009, and has owned as much as up to 4% of
the large Swiss financial institution.
Since then, dividends and changes in the value of Credit Suisse
shares have heavily influenced Koor's financial results.
The Swiss central bank advised Credit Suisse and other large
Swiss banks Thursday to improve their capital adequacy to protect
themselves against escalating risks in the European banking
sector.
Write to Sara Toth Stub at Londonequ.Slot@dowjones.com