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Delek Real Estate, Gazit-Globe, Teva: 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 dropped 1.3 percent to 1,246.45 in Tel Aviv.

Delek Group Ltd. (DLEKG IT): The holding company of energy and property mogul Isaac Tshuva said third-quarter net income dropped to 33 million shekels ($9 million) from 60 million shekels a year-earlier. The company declared a cash dividend of 500 million shekels for the quarter. The shares gained 0.5 percent to 962 shekels.

Delek Real Estate Ltd. (DLKR IT): The property developer reported a third-quarter loss of 138.1 million shekels compared with a loss of 449.1 million shekels in the same period a year ago. Delek slipped 1.6 percent to 1.449 shekels.

Gazit-Globe Ltd. (GLOB IT): The real estate company was raised to “buy” from “hold” at Deutsche Bank AG with a 12- month share price estimate of 56 shekels. Gazit rose 1 percent to 42.69 shekels.

Teva Pharmaceutical Industries Ltd. (TEVA IT): The board of the world’s largest maker of generic drugs has authorized a share repurchase program of as much as $1 billion over the next 12 months. Teva increased 0.6 percent to 187.5 shekels.

To contact the reporter on this story: Ronit Goodman in Tel Aviv at rgoodman9@bloomberg.net

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

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