Delek Fuel, Phoenix Holdings, Makhteshim: 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 gained 0.3 percent to 1,251.23 in Tel Aviv.

Delek The Israeli Fuel Corp. (DLKIS IT): Delek Petroleum Ltd. offered to buy the remaining 22.8 percent stake it doesn’t already own in Israeli Fuel for 238 million shekels ($69 million), or 92 shekels a share.

Separately, the company hired an investment bank to help it seek international partners to expand operations at the Ashdod fuel-storage facility. Delek dropped 0.8 percent to 83.54 shekels.

Financial Levers Ltd. (LVR) : The investment company said the Petroleum Council has recommended to Israel’s regulator that a transfer of rights in the Shemen license be approved. Financial Levers rose 5.3 percent to 0.87 shekel.

Makhteshim-Agan Industries Ltd. (MAIN) (MAIN): The maker of agrochemicals said it will combine activities of its U.S. units Quali-Pro and Control Solutions Inc. Makhteshim advanced 0.8 percent to 19.25 shekels.

Phoenix Holdings Ltd. (PHOE1) (PHOE1 IT): The insurer reported the ownership of 5 percent of Linchfield Ltd. Phoenix declined 0.2 percent to 11.05 shekels.

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.