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Koor, Discount Investment Drop Following Credit Suisse Slide

July 22 (Bloomberg) -- Koor Industries Ltd., which owns a stake in Credit Suisse Group AG, retreated as shares of the Swiss bank dropped almost 3 percent on July 20.

Koor declined 6.6 percent to 29.80 shekels, the lowest since Sept. 12, at the 4:30 p.m. close in Tel Aviv. IDB Holding Corp., which owns a stake in Koor through Discount Investment Corp., dropped 6.8 percent to 15 shekels, the weakest level since July 16. Discount Investment declined 6.2 percent to 5.072 shekels, the lowest level on record for the shares. The benchmark TA-25 index lost 0.6 percent.

Credit Suisse shares dropped 2.9 percent to 16.83 Swiss francs ($17.03) in Zurich on July 20.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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