Israeli Stocks: Isramco, Migdal Insurance & Financial Holding
Israel’s TA-25 Index rose to a record, adding 0.2 percent to 1,284.66 at the 4:30 p.m. close in Tel Aviv. Investors traded about 1.15 billion shekels ($317 million) in shares and convertible securities.
The following stocks rose or fell today. Symbols are in parentheses.
Isramco Negev 2 LP (ISRAL IT) climbed to a two-week high, advancing 5.1 percent to 0.451 shekel after Ma’ariv reported proposals made by a government panel on raising the tax on gas and oil output may exclude the Tamar gas field. The gas and oil explorer holds a 28.75 percent stake in Tamar.
“The company hasn’t received anything from the government on the matter,” Isramco’s Chief Executive Officer Yossi Levy said in a telephone interview from Petah Tikva, Israel today. The committee is expected to post final recommendations at the end of the year, Shlomi Sheffer, a spokesman for the Ministry of Finance, said by telephone today.
Migdal Insurance & Financial Holding Ltd. (MGDL IT) rose the most in more than a week, increasing 2 percent to 7.256 shekels. The insurance company will lend $100 million to Delek Group Ltd. to finance a power station, TheMarker reported. An outside spokeswoman for Migdal, who asked not to be identified, declined to comment.
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