Israeli shares open down 3 pct led by Israel Chem

TEL AVIV, Oct 16 (Reuters) - Israeli shares opened down about 3 percent on Thursday, led by an 8.6 percent drop in fertiliser maker Israel Chemicals (ICL.TA) and a 6.6 percent decline in its parent company Israel Corp (ILCO.TA).

The blue chip Tel Aviv 25 .TA25 index was down 2.9 percent at 0843 GMT while the broader TA-100 .TA100 was off 3.2 percent.

The TA-25 closed up 0.7 percent on Wednesday, after the market had been closed for a two-day holiday, while the TA-100 gained 1.8 percent.

Israel Chemicals, whose shares soared in the first half of the year on surging demand for fertilisers around the world, has lost nearly 60 percent since a high set on June 18.

A plunge in grain prices has led investors to dump shares in fertiliser producers in the belief farmers will cut back on crop inputs.

Shares in holding company Koor Industries (KOR.TA) were down 3.3 percent. The stock had surged 22 percent on Wednesday after the company announced it was buying a 3 percent stake in Credit Suisse (CSGN.VX) for 1.2 billion Swiss francs <($1.1 billion), or 35 francs per share.

(Reporting by Tova Cohen; Editing by Jon Loades-Carter)