Israeli Stocks: Cellcom, Gazit-Globe, Israel Chemicals

Israel's TA-25 Index rose for a second day, adding 18.60, or 1.8 percent, to 1,027.85 at 12:39 p.m. in Tel Aviv. Trading will end at 2:15 p.m. instead of 5:30 p.m. due to a labor dispute at the exchange.

Cellcom Israel Ltd. (CEL) dropped for a second day, losing 1.40 shekels, or 1.3 percent, to 107.80 shekels. Lehman Brothers Holdings Inc. cut its recommendation on the shares of Israel's largest mobile-phone company to ``underweight'' from ``equal weight.''

Delek Group Ltd. (DLEKG) rose for a second day, gaining 16.70 shekels, or 3.1 percent, to 555.60. The Israeli real- estate and energy investor was rated ``overweight'' in new coverage at Lehman Brothers.

Gazit-Globe Ltd. (GLOB) rose for a third day, adding 1.18 shekels, or 3.3 percent, to 37.03. The Israeli developer of commercial real estate's 30 percent-owned U.S. affiliate Equity One Inc. said it would make a profit of about $130 million from a property transaction.

Israel Chemicals Ltd. (ICL) , which harvests minerals from the Dead Sea to make fertilizers and chemicals, rose 2.54 shekels, or 5 percent, to 53.64, gaining for a second day. Harel Finance Ltd. raised its price estimate for the shares to 60 shekels from 55 shekels after the company announced phosphate and potash production expansion plans on March 31.

To contact the reporter on this story: Susan Lerner in Jerusalem at Slerner2@bloomberg.net.

To contact the editor responsible for this story: David Merritt at dmerritt1@bloomberg.net.

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