Israeli Stocks: Compugen, Magic, Oil Refineries, Top Image

Israel’s TA-25 Index was little changed, gaining less than 0.1 percent to 1,304.48 at the 4:30 p.m. close in Tel Aviv. Investors traded about 2.49 billion shekels ($693 million) in shares and convertible securities.

The Tel Aviv Stock Exchange will update its indexes as of tomorrow. No changes to the composition of the benchmark TA-25 index are expected, the bourse said Dec. 8.

The following stocks rose or fell today. Symbols are in parentheses.

Compugen Ltd. (CGEN IT) gained for the first time in five days, increasing 1.5 percent to 14.30 shekels. The company that discovers drugs based on computational methods said its CGEN- 15001 dramatically improved the clinical symptoms of rheumatoid arthritis in an animal model.

Magic Software Enterprises Ltd. (MGIC IT) jumped to the highest level since April 2004, surging 16 percent to 29 shekels. The software developer said its HERMES Logistics Technologies unit signed an agreement to provide its cargo management system to Aviapartner. The company said Dec. 12 it will be listed on the Tel Aviv Mid-Cap 50 Index as of tomorrow.

Oil Refineries Ltd. (ORL IT) climbed to the highest since July 2008, gaining 2.1 percent to 2.48 shekels. Israel’s biggest refiner started units at its Haifa processing plant following maintenance that began at the end of October.

Top Image Systems Ltd. (TISA IT) advanced to the highest since Feb. 1, rising 8.7 percent to 4.5 shekels. The developer of data and entry software said it was chosen to process the documents for the Czech Republic census.

To contact the reporters 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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