Isramco, Ness, Redhill, Strauss Group: Israeli 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 lost 2.7 percent to 1,189.53 in Tel Aviv.

Isramco Negev 2 LP (ISRAL IT), Avner Oil Exploration-LP (AVNRL IT), Delek Drilling-LP (DEDRL IT), Ratio Oil Exploration (RATIL IT), Zerah Oil Gas Exploration LP (ZRAHL IT): Israel may declare gas producers a monopoly or impose price supervision on gas, Finance Minister Yuval Steinitz said. Isramco dropped 6.2 percent to 0.412 shekel. Avner slid 5.3 percent to 1.96 shekels. Delek fell 5.1 percent to 11.01 shekels. Ratio declined 5.1 percent to 0.37 shekel. Zerah was unchanged at 0.065 shekel.

Ness Technologies Inc. (NSTC) : The global information technology services company was sued in Delaware Chancery Court by an investor claiming a planned $307 million takeover by Citi Venture Capital International undervalues the Israeli company’s stock. Ness gained 1 percent to 25.99 shekels.

Redhill Biopharma Ltd. (RDHL IT): The developer and manufacturer of pharmaceuticals said it signed agreements for two clinical trials of its RHB-104 treatment for Crohn’s disease to be done in Europe and the U.S. Redhill advanced 2.7 percent to 2.896 shekels.

Strauss Group Ltd. (STRS) : Finance Minister Yuval Steinitz is considering allowing the import of more dairy products to boost competition and bring down prices. Strauss, a maker of food products including chocolate, declined 1.4 percent to 51.75 shekels.

To contact the reporter on this story: Gwen Ackerman in Tel Aviv at gackerman@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

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