Israeli Stocks: Can Fite, Glycominds, Orckit Communications

Israel’s TA-25 Index rose for the first time in three days, gaining 0.2 percent to 1,230.55 at the 4:30 p.m. close in Tel Aviv. Investors traded about 932.2 million shekels ($277 million) in shares and convertible securities. Local markets will be closed on June 7 and June 8 for a holiday.

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

Can Fite BioPharma (CFBI) Ltd advanced the most since May 31, increasing 0.3 percent to 0.719 shekels. The biopharmaceutical company signed an agreement to spin off its eye-disease division to U.S. company Denali Concrete Management Inc.

Glycominds Ltd. (GLCM IT) climbed the most since the shares were listed in Tel Aviv on March 1, jumping 9.1 percent to 1.622 shekels. The molecular diagnostics company reported “positive results” in the second clinical trial using gMS-Classifier2 for diagnosis of multiple sclerosis.

Orckit Communications Ltd. (ORCT) dropped to the lowest level since February 2003, declining 2.6 percent to 7.806 shekels. The maker of telecommunications equipment said it expects to generate gross proceeds of about 28.9 million shekels from bond offerings.

To contact the reporter on this story: Sharon Wrobel in Tel Aviv at swrobel4@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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