Ampal-American Climbs to Six-Week High on Agreement With Egypt

Ampal-American Israel Corp. (AMPL) rose the most in six weeks in Tel Aviv trading after the Israeli energy holding company’s unit reached an agreement with the Egyptian Authorities.

Ampal-American gained as much as 0.90 shekel, or 9.1 percent to 10.74 shekels at 12:09 p.m.

Ampal-American’s 12.5 percent-owned East Mediterranean Gas Co. and the Egyptian authorities amended an agreement under which the country sells gas to EMG, the company said in a statement to the Tel Aviv Stock Exchange today. The amendments include price increases and new delivery targets, it said.

To contact the reporter on this story: Tal Barak Harif in Tel Aviv at tbarak@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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