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JERUSALEM -(Dow Jones)- Israeli keeping firm Koor Industries Ltd. (KOR.Tv) stated Sunday that its web reduction for the second quarter totaled one.92 billion shekels ($ 53 million) because of to the declining value of shares in Credit Suisse Team (CS), one of its investments. In the second quarter of 2010, Koor reported a net earnings of ILS35.4 million. Earnings was ILS421 million, up marginally from ILS407 million. Koor had warned that it would report a loss from the declining price tag in shares of Credit score Suisse, which it has been getting and selling since 2008. Koor not too long ago decreased its keeping in Credit score Suisse to two.14% from three.21%, because of to the declining share cost and the need to pay again loan companies that loaned it dollars to acquire the Swiss bank shares. Koor mentioned it expects the Credit score Suisse expense to keep on having a detrimental impact on its economic scenario. It said it would report a decline of ILS91 million in its 3rd quarter financial benefits because of to the expense. At one thousand GMT, shares of Koor were up ILS0.01, or .03%, at ILS30.78, in a greater Tel Aviv marketplace. Copyright &duplicate 2011 Dow Jones Newswires