Israeli Stocks: Ampal, Bio Light, Modiin, Tao, Elbit Medical
Israel’s TA-25 Index rose 0.3 percent to 1,251.23 at the 4:30 p.m. close in Tel Aviv. Investors traded about 1.66 billion shekels ($479 million) in shares and convertible securities. Symbols are in parentheses.
The following stocks rose or fell today.
Ampal-American Israel (AMPL) Corp fell 4 percent to 2.974 shekels, the lowest level since January 2009. An explosion at an Egyptian pipeline terminal halted the flow of natural gas to Israel for the fourth time this year. Ampal owns a 12.5 percent stake in East Mediterranean Gas Co., which imports Egyptian gas.
Bio Light Israeli Life Sciences Investments Ltd. (BOLT) soared the most since Sept. 6, increasing 19 percent, to 0.342 shekel. The owner of companies that develop drugs and medical technology said it will raise 10.5 million shekels from a share sale.
Elbit Medical Technologies Ltd. (EMTC IT) advanced 6.8 percent to 0.36 shekel, the highest since May 5. A joint venture of the medical device company’s Gamida Cell unit with Teva Pharmaceutical Industries Ltd. (TEVA) 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. Teva rose 1.5 percent to 170 shekels, the highest since June 16.
Modiin LP (MDINL IT) declined for a fifth day, falling 2.3 percent to 0.043 shekel. 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.
Tao Tsuot Ltd. (TAO) surged the most in 10 months, rallying 18 percent to 0.151 shekel. The holding company’s controlling shareholder Ilan Ben Dov offered to give Tao 50.01 percent of Suny Electronic Inc. as part of a proposed debt settlement. Suny shares dropped for the first time in four days, declining 0.3 percent to 35.91 shekels.
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