Israeli Stocks: Ampal, Exalenz, Nice Systems, Ormat and Teva

Israel’s TA-25 Index dropped 0.8 percent to 1,219.45 at the 4:30 p.m. close in Tel Aviv, the lowest level since Oct. 7. The benchmark gauge lost 0.7 percent this week.

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

Ampal-American Israel (AMPL) Corp jumped the most since May 17, gaining 5.2 percent to 4.315 shekels. The owner of a 12.5 percent stake in East Mediterranean Gas Co. said tests to resume the supply of natural gas from Egypt have begun. The Jordan Times reported that gas deliveries to Jordan from Egypt are due to resume next week.

Exalenz Bioscience Ltd. (EXEN) plunged 8.2 percent to 0.708 shekel, the lowest level since June 2009. The developer of breath-testing systems to diagnose and manage diseases said it will cease marketing its Kit II system in the U.S. in response to demands from the U.S. Food and Drug Administration.

Ormat Industries (ORMT) Ltd surged the most since at least November 1995, when Bloomberg began tracking the shares, advancing 14 percent to 22.40 shekels. The U.S. unit of the developer of geothermal power plants received supply, engineering, procurement and construction contracts worth about $130 million from Mighty River Power Ltd. of New Zealand for the first stage of the Ngatamariki geothermal project.

Nice Systems Ltd. (NICE) dropped the most in a year, declining 4 percent to 113 shekels. Verint Systems Inc., a competitor of the maker of digital-recording surveillance products, yesterday reported revenue that missed analysts’ estimates.

Teva Pharmaceutical Industries Ltd. (TEVA) retreated 1.8 percent to 167 shekels, the lowest since May 11. The U.S. Food and Drug Administration denied the company’s citizen petition on the generic version of Copaxone.

Separately, the world’s largest maker of generic drugs said the FDA’s office of compliance will re-inspect its Jerusalem facility, which was cited for distributing drugs without adequate testing, on June 13.

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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