Avner, Clal, Discount, Leumi, Migdal: 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 1.6 percent to 1,281.62 in Tel Aviv.

Avner Oil Exploration-L.P. (AVNRL IT): Proposals made by the government-appointed Sheshinski panel on changes to tax structure for gas and oil output may exclude or be changed for the Tamar gas field, Ma’ariv reported. Tamar partners Avner fell 1.4 percent to 2.56 shekels, Delek Drilling-LP (DEDRL IT) lost 1.9 percent to 13.65 shekels and Isramco Negev 2 LP (ISRAL IT) declined 0.7 percent to 0.429 shekel.

Clal Insurance Enterprise Holdings Ltd. (CLIS): Apax Partners LLP and private-equity firm Permira are vying to acquire the insurance company from parent IDB Holding Corp., Globes reported. Clal rose 1.1 percent to 95.64 shekels.

Israel Discount Bank Ltd. (DSCT IT): Israel’s third largest lender filed a prospectus with the Tel Aviv Stock Exchange to sell shares to the public and expects net proceeds from the sale of about 240 million shekels. Discount declined 1.1 percent to 7.68 shekels.

Bank Leumi Le-Israel Ltd. (LUMI IT): Israel’s largest bank by market value has agreed in principle to pay interest on the balance remaining in current accounts, the daily Ma’ariv said today. Bank Leumi advanced 1.8 percent to 17.77 shekels.

Migdal Insurance & Financial Holding Ltd. (MGDL IT): The insurance company will lend $100 million to Delek Group Ltd. to finance a new power station which will produce about 100 mega- watts, TheMarker reported. Migdal fell 1.9 percent to 7.116 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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