Breaking News

Tweet TWEET

Israeli Stocks: Eldav, Electra Real Estate, Medigus, Medtechnica

Israel’s TA-25 Index rose 0.2 percent to 1,338.22 at the 4:30 p.m. close in Tel Aviv. Investors traded about 1.57 billion shekels ($441 million) in shares and convertible securities.

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

Eldav Investments Ltd. (ELDAV IT) soared to the highest level since August 2007, jumping 15 percent to 4.505 shekels. The investment company agreed to sell its 40 percent stake in Medtechnica Ltd. (MEDI IT), an importer of medical equipment, to Ilex Medical Ltd. (ILX IT) for 190 million shekels ($53 million). Medtechnica rose 3.4 percent to 28.07 shekels and Ilex Medical increased 1.8 percent to 37.99 shekels.

Electra Real Estate Ltd. (ELCRE IT) lost the most in three weeks, declining 2.4 percent to 28.33 shekels. The investor in real estate said Shaul Weinberg will replace Shlomo Sherf as chief executive officer as of March 31.

Israel Land Development Co. (ILDC IT) gained the most this year, advancing 3.1 percent to 34.45 shekels. The investment company’s rating was raised to BBB+ with a “stable” outlook and was removed from “CreditWatch” at Standard & Poor’s Maalot.

Medigus Ltd. (MDGS IT) increased the most in more than two months, adding 5.2 percent to 1.434 shekels. The developer of endoscopic procedures and devices said it completed the development of two digital-video processing systems for clinical purposes that it intends to market to current and new clients.

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 in Dubai at cmaedler@bloomberg.net.

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.