Ampal, Elbit Imaging, Modiin and Teva: 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 1.7 percent to 1,247.38 in Tel Aviv.
Ampal-American Israel (AMPL) Corp: Militants blew up an Egyptian pipeline terminal that supplies gas to Israel in a pre- dawn attack, the state-run Middle East News Agency reported today. The owner of a 12.5 percent stake in East Mediterranean Gas Co., which supplies the gas, fell 0.2 percent to 3.098 shekels. Oil Refineries Ltd. (ORL) , which has agreements to buy gas from EMG, dropped 2.8 percent to 2.391 shekels.
Elbit Imaging Ltd. (EMIT) : The Gamida Cell-Teva Joint Venture said the data monitoring committee has recommended the venture continue to enroll patients for a Phase III study of StemEx, a cord blood stem cell product, for leukemia and lymphoma. Elbit, which owns about 32 percent of Gamida, retreated 2.4 percent to 22.04 shekels. Clal Biotechnology Industries Ltd. (CBI) , which also has a stake in Gamida, lost 1.9 percent to 19.41 shekels.
Modiin LP (MDINL IT): The oil and gas exploration company and its partners in the Sara and Myra licenses asked Israel’s regulator for a two-month delay to Feb. 28, 2012 for the start of the first drill at the sites. Modiin slid 4.4 percent to 0.044 shekel.
Teva Pharmaceutical Industries Ltd. (TEVA) : Roche Holding AG filed a lawsuit seeking to block generic-drug companies including Novartis AG’s Sandoz and Teva, the world’s largest maker of generic pharmaceuticals, from selling a low- cost version of the anti-nausea drug Aloxi. Teva declined 0.9 percent to 167.50 shekels.
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