Israel Stocks: Delek Fuel, Delek Real Estate, Gilat, Multimatrix

Israel’s TA-25 Index slipped less than 0.1 percent to 1,250.56 at the 4:30 p.m. close in Tel Aviv. Investors traded about 1.06 billion shekels ($308 million) in shares and convertible securities. Symbols are in parentheses.

The following stocks rose or fell today. Symbols are in parentheses.

Delek The Israeli Fuel Corp. (DLKIS IT) soared the most since December 2008, surging 12 percent to 93.64 shekels. Delek Petroleum Ltd. offered to buy the remaining 22.8 percent stake it doesn’t already own in the fuel provider for 238 million shekels, 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 Real Estate Ltd. (DLKR) rose for the first time in eight days, increasing 6.3 percent to 0.237 shekel. The board of Isaac Tshuva’s property company asked management to make updated recommendations regarding its strategic plans as it advances a program of selling assets to repay debt. The company said its Delek Global Real Estate unit completed the sale of the Bell Tower in Canada and was close to completing the sale of other Canadian assets.

Gilat Satellite Networks Ltd. (GILT) climbed to the highest level since May 18, jumping 4.3 percent to 16.40 shekels. The developer of satellite-networking technology said it was selected by Snyterra ZAO to provide equipment for a broadband network in Russia.

Multimatrix Ltd. (MLTX) gained the most since June 5, increasing 5.1 percent to 0.676 shekel. A unit of the investment company agreed to sell its stake in an Israeli wind-energy venture to Energix-Renewable Energies Ltd. (ENRG IT) for 45 million shekels. Energix was unchanged at 1.161 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

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