Isramco Negev, Teva, Summit Real Estate: Israel Equity Preview
The following stocks may rise or fall in Israeli markets. Stock symbols are in parentheses after the company names and prices are from the last close unless otherwise stated.
The TA-25 Index rose 0.6 percent to 1,210.99 in Tel Aviv.
Delek Drilling-LP (DEDRL IT): Israel Electric Corp. suspended talks regarding the purchase of natural gas from the Tamar project after a decision by a public authority relating to the local gas market. Delek, Isramco Negev 2 LP (ISRAL IT) and Avner Oil Exploration-LP (AVNRL IT) are partners in Tamar. Delek advanced 0.7 percent to 11.59 shekels. Isramco jumped 4.8 percent to 0.415 shekel. Avner gained 0.7 percent to 2.058 shekels.
Bank Leumi Le-Israel Ltd. (LUMI IT): Moody’s Investors Service said the outlook for Israel’s banking system remains stable due to favorable domestic economic conditions, asset- quality improvements and healthy liquidity levels. Leumi, the country’s largest lender by assets, dropped 1 percent to 15.64 shekels.
Summit Real Estate Holdings Ltd. (SMT) : The property company is in talks to sell its stake in Summit Germany or bring in a strategic investor. Summit fell 2 percent to 5.281 shekels.
Teva Pharmaceutical Industries Ltd. (TEVA) : The world’s largest maker of generic drugs and Cephalon Inc. received a request for additional information from the U.S. Federal Trade Commission related to Teva’s pending acquisition of Cephalon.
Separately, Teva entered into syndicated credit facilities totaling $4 billion to support the $6.8 billion acquisition. Teva slipped less than 0.1 percent to 166.90 shekels.
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