Hot, Property & Building, Teva: Israel Equity Preview

(Corrects definition of Natural Resource in fourth paragraph.)

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 0.7 percent to 1,248.76 in Tel Aviv.

Hot Telecommunication System Ltd. (HOT) : The cable and telecommunications company said its board approved the acquisition of MIRS Communication Ltd., a wireless operator, for 1.3 billion shekels ($378 million). Hot rose less than 0.1 percent to 60.40 shekels.

Natural Resource Holdings Ltd. (NRH) : An investor in commodities and natural resource companies said it’s considering dual-listing its shares in the U.S. Natural Resource increased 4.4 percent to 4.529 shekels.

Property & Building Corp. (PTBL) : The real-estate company plans to reassess the value of its investment-property portfolio and based on that revaluation expects to report second-quarter net income of 60 million shekels to 90 million shekels. Property & Building advanced 1.4 percent to 230.50 shekels.

Teva Pharmaceutical Industries Ltd. (TEVA) : The world’s largest generic drugmaker expanded its licensing agreement with Cel-Sci Corp. for the cancer drug Multikine to include Croatia and Serbia. Teva lost 0.4 percent to 164 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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