Africa Israel, El Al, Frutarom, Isramco: Israeli Equity Preview

The following stocks may rise or fall in the Israeli market. Stock symbols are in parentheses after company names and prices are from the last close unless otherwise stated.

The TA-25 Index rose 2.2 percent to 1,255.75 in Tel Aviv.

Africa Israel Residences Ltd. (AFRE IT): The property developer said third-quarter net income rose to 12 million shekels from 4.6 million shekels a year ago. Africa Israel fell 0.8 percent to 67 shekels.

Brill Shoe Industries Ltd. (BRIL IT): The retail chain operator agreed to buy Lee Cooper’s activities in Israel. Brill rose 0.2 percent to 44.01 shekel.

El Al Israel Airlines Ltd. (ELAL IT): The national carrier’s workers committee is clashing with the Histadrut Labor Federation over the organization’s agreement with El Al management to extend the employment of temporary workers, TheMarker reported. El Al rose 3.4 percent to 1.359 shekels.

Frutarom Industries Ltd. (FRUT IT): Israel’s largest maker of flavorings said third-quarter net income rose to $11.1 million from $10 million a year earlier. Frutarom rose 1.4 percent to 36.34 shekels.

Isramco Negev 2 LP (ISRAL IT): The oil and gas explorer reported third-quarter net income of 5.5 million shekels compared with 20.7 million shekels a year ago. Isramco rose 0.7 percent to 0.452 shekel.

Teva Pharmaceutical Industries Ltd. (TEVA IT): Bristol- Myers Squibb Co. partner Otsuka Pharmaceutical Co. won a court ruling that will prevent generic versions of the schizophrenia treatment Abilify from entering the U.S. market until April 2015. The ruling is a loss for companies seeking to sell generic versions of the medicine such as the Israeli drugmaker. Teva rose 0.3 percent to 187.60 shekels.

To contact the reporter on this story: David Wainer in Tel Aviv at dwainer1@bloomberg.net

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

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