Africa-Israel, Israel Chemicals, Teva: Israeli Equity Preview

The following stocks may rise or fall in Israeli markets. Stock symbols are in parentheses after company names and prices are from the last close unless otherwise stated.

The TA-25 Index lost 1.4 percent to 1,314.56 in Tel Aviv.

Africa-Israel Investments Ltd. (AFIL) : The U.S. real estate unit of Lev Leviev’s holding company sold the top floors of the former New York Times building in midtown Manhattan to Blackstone Group LP for $160 million. Africa Israel dropped 0.2 percent to 28.74 shekels.

Israel Chemicals Ltd. (ICL) : Bill Doyle, chief executive officer of Potash Corp. of Saskatchewan Inc. said April 28, he’s “very confident” a supply contract will be signed with India, the world’s largest user of the crop nutrient, even after a producer group there protested price increases. Israel Chemicals, which extracts minerals from the Dead Sea to make fertilizer, fell 1.9 percent to 59.60 shekels.

Israel Land Development Co. Energy Ltd. (IE IT): Israel’s Ministry of National Infrastructures extended the natural gas exploration company’s licenses at the Mira and Sara sites to July 13, 2012. Israel Land slid 3.2 percent to 0.966 shekel.

Redhill Biopharma Ltd. (RDHL IT): The pharmaceutical maker reached an agreement for a Canadian drugmaker to produce and supply Redhill’s RHB-104 drug for use in phase II/III clinical trials. Redhill rose 0.8 percent to 3.355 shekels.

Teva Pharmaceutical Industries Ltd. (TEVA) : The European Commission said it will examine whether a 2005 agreement between the world’s largest maker of generic drugs and Cephalon Inc. to settle British and U.S. patent litigation “may have the object or effect of hindering the entry” of the sleep-disorder drug, known as modafinil. Teva dropped 1 percent to 157.10 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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